1KOMMA5° announces Series B for further market expansion and European R&D
We are happy to announce that our portfolio company 1KOMMA5° has closed a Series B funding round of EUR 215 million, led by G2VP and followed by all major existing investors including ourselves at b2venture. As an active deep tech investor, we have been big believers in greentech solutions powered by a bold vision and compelling technology and are gratified to see the progress that the entire 1KOMMA5° team has made in bringing climate-neutral energy solutions to market.
Since co-leading the company’s Series A round with our early stage b2venture Fund and Direct Investment Fund, 1KOMMA5° has become the leading European installer of residential solar power, employing 1300 people across 60 locations in Germany, Sweden, Finland, Italy and Australia.
The company is now well positioned to continue its incredible growth on their mission to build a one-stop shop for a decentralized, climate neutral power supply to help households and SMEs around the globe move to affordable and sustainable energy solutions.
With a new R&D site in Berlin to further advance software capabilities in energy management and its “virtual power plant” around its IoT energy manager “Heartbeat”, the company is doing something truly unique as a leading cleantech company.
"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. With our energy IOT heartbeat we aspire to be a global leader in connecting distributed energy system; creating the clean electricity market of the future," says 1KOMMA5° founder and CEO Philip Schröder.
“We are immensely proud of this very special team and are honored to have been backing the company since the very beginning,” says b2venture founding Partner Florian Schweitzer.
We are especially grateful to long-time b2venture angel investor Michael Hinderer, who serves 1KOMMA5° as a very engaged Chairman with all his wealth of knowledge, wisdom and network.