In a remarkable feat, Hamburg-based solar panel system start-up, 1KOMMA5°, has recently completed a series B funding round, raising a staggering €430 million. This outstanding achievement propels the company into the coveted realm of unicorns in a remarkably short span of 23 months. Notably, the funding round was spearheaded by G2VP, with the appointment of Ben Kortlang as vice chairman of the board.
Highlighting their vision, the company expressed its unwavering commitment to creating a world where renewable energy from wind and sun is readily accessible to all, free of charge. Exceeding their initial target of €150 million due to overwhelming demand, 1KOMMA5° secured €215 million in equity funding and further allocated an additional €215 million through buyback options, enabling potential acquisitions. With a substantial total capital infusion of €430 million, the company is well-positioned to drive vertical integration within the value chain, propel technological advancements, and foster innovation around their flagship offerings, including the groundbreaking Heartbeat technology and their visionary virtual power plant.
Distinguished as a climate tech start-up, 1KOMMA5° offers customers hassle-free installation of solar panel systems by highly skilled technicians, thereby reducing reliance on traditional energy grids for homeowners. This innovative approach simplifies the process of implementing photovoltaic systems in residential properties, marking a significant stride in sustainability.
The latest milestone for 1KOMMA5° comes on the heels of their strategic acquisition of Viasol A/S, a leading Danish solar company specializing in comprehensive solar solutions integrated with battery technology. This strategic move further strengthens 1KOMMA5°'s position as a trailblazer in the solar energy sector.
As 1KOMMA5° continues to disrupt the renewable energy landscape and redefine the possibilities of sustainable power generation, their recent funding success and unicorn status underscore their unwavering dedication to a future powered by clean and accessible energy sources for all.
