Greentech company Zolar Raises €10 Million

The Berlin-based startup Zolar raises a €10 million Series B-round. The lead investors of the Series B financing round are BayWa r.e. Energy Ventures and the Czech venture capital fund Inven Capital. The existing investors, Heartcore Capital, Statkraft Ventures and Partech also participated in the round.

Since it was founded in 2016, Zolar has offered photovoltaic systems through its digital end- to-end configuration platform. The platform was designed to be particularly user-friendly so that individuals with limited expertise could make informed choices. The start-up has simplified access to renewable energies and enables its customers to effectively contribute to the fight against climate change. The Zolar online configurator seamlessly takes over the entire concept of your own photovoltaic system, from planning to insurance and financing, all the way to the final installation.

“We are very happy to have experienced and internationally successful venture capital investors such as BayWa r.e. Energy Ventures and Inven Capital on board. Access to their expertise as well to the investors’ global network will contribute towards expanding our digital platform and increasing our network of installation partners. Thanks to their support, more people are able to generate the energy they need themselves, while being virtually independent of energy suppliers,” Alex Melzer, CEO of Zolar stated.

“Zolar has the solution to one of the most pressing issues for photovoltaic customers: the online configurator has made planning a solar system as easy as never before”, explains Ulrich Seitz, Managing Director of BayWa r.e. Energy Ventures. “Trends such as electric mobility come with increasing electricity needs and rising costs. This often leads to the desire to become grid-independent by means of generating power yourself.”

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