1KOMMA5° closes € 215 million growth financing roundPORTFOLIO NEWS
Recently, 1KOMMA5° acquired one of the leading Danish photovoltaic companies Viasol A/S. Thus 1KOMMA5° is present not only in Germany and Denmark, but also in Sweden, Finland, Italy and Australia. 1KOMMA5° employs around 1,300 people at 60 locations. Now 1KOMMA5° has announced the closing of its Series B.
With G2 Venture Partners, 1KOMMA5° was able to attract one of the most renowned North American growth investors with a focus on sustainability. The funds from the financing round will be used to strengthen the development team in order to expand the functionalities of the smart energy manager Heartbeat and the virtual power plant based on it. On the other hand, the company plans further acquisitions in Spain, Italy, Austria and Switzerland. The financing round, including re-participation options for future investments, values the company at more than one billion euros.
1KOMMA5° brings together an exceptional pan-European buy-and-build model, a uniquely positioned decentralized energy platform and an exceptionally talented founding team; potentially becoming the first fully integrated European one-stop-shop for CO2-neutral electricity, mobility and heat in buildings while revolutionizing the way decentralized, electrified energy markets will operate.
Ben Kortlang, Co-Founder, G2 Venture Partners
We are very pleased to welcome G2VP, one of the most renown U.S. technology investors, as a new shareholder and Ben Kortlang as new Vice-Chairmen of our board.
Philipp Schröder, Co-Founder and CEO, 1KOMMA5°
1KOMMA5° has far exceeded our expectations since the A-round and we are pleased to have the right partner on board for the next steps with experienced investor Ben Kortlang, who has already helped build numerous listed global market leaders in the renewable energy sector.
Bernd Arkenau, Managing Partner, eCAPITAL AG
The success of 1KOMMA5° is largely based on its own IoT solution Heartbeat. It enables private households to participate in the electricity market and thus generate additional income. The energy management system is installed with a photovoltaic system and can be connected to home storage units, heat pumps and wallboxes. It is directly connected to the electricity market. Among other things, this allows instant analysis of energy prices, taking into account the weather forecast to predict photovoltaic production. “Heartbeat” can automatically control what to do with the available electricity from the photovoltaic system, home storage and the power grid. Fluctuations in the price of electricity could thus be used to the benefit of end users.
1KOMMA5° was founded in the summer of 2021 by entrepreneurs and industry experts with the aim of enabling people in Germany and Europe to live a CO2-free life. This is implemented by providing technology for a decentralized, clean energy supply, mobility and heat, as well as services that go beyond. In doing so, 1KOMMA5° participates in particularly innovative craft businesses in the fields of photovoltaics, electricity storage, charging infrastructure and heat pumps, in order to strengthen regional craftsmanship on the one hand and to enable high-quality consulting and installation at the customer’s site on the other. In addition, 1KOMMA5° is working on the networking and control of decentralized generation systems, with the aim of fully leveraging the potential of the decentralized energy transition. For this purpose, all installed systems are to become part of a central IOT system.
Founded in 1999, eCAPITAL is an entrepreneur-led venture capital investor focusing on early and growth-stage deep-tech companies with a positive impact on society. eCAPITAL is based in Germany and invests in the areas of Sustainability, Enterprise Software, Cybersecurity, IoT and New Materials with its own funds totaling over €340 million. In addition to financial resources, eCAPITAL offers its portfolio companies strategic support and access to an international network of entrepreneurs, scientists, investors and founders and was lead investor in several deep-tech companies such as sonnen, Novaled or Jedox, which were sold very successfully to international strategists or investors. To learn more about eCAPITAL, see www.ecapital.vc or follow eCAPITAL on LinkedIn.
About G2 Venture Partners
G2 Venture Partners is a venture and growth firm investing in technology companies at their inflection points to build a sustainable future. They support entrepreneurs unlocking new paths to environmentally and socially responsible economic growth. Learn more at www.g2vp.com and contact the team at email@example.com.