1KOMMA5° has raised €215 million in a Series B equity funding round at a valuation of more than $1 billion in just 23 months after the climate-focused company was founded.
G2VP led the round that also includes €215 million in re-participation options, which can be paid as part of the purchase price for new acquisitions.
The Hamburg, Germany-based company plans to use the funding further advance software capabilities in energy management, virtual power plant, and device connection around Heartbeat, its proprietary energy IoT system.
1KOMMA5° is building a one-stop-shop for sale, installation and services related to solar, electricity storage and charging infrastructure.
The startup aims to create a world where everyone can live on wind and sunlight forever for free.
Earlier this month, 1KOMMA5° expanded in Demark with the acquisition of Viasol, expanding its reach into six markets
It hopes to continue expanding into Spain, Italy, Austria, and Switzerland by the end of 2023.
“The 1.5° climate target needs speed in execution and with this round we are delivering our contribution to make as many buildings CO2 neutral as quickly as possible,” Philipp Schröder CEO of 1KOMMA5°.
Source:
https://www.1komma5grad.com/de/magazin/news/1komma5-unicorn
https://www.1komma5grad.com/de/magazin/news/1komma5-goes-denmark
