German energy startup ZOLAR completes 4 mn euro financing deal

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ZOLAR, a Berlin-based energy-start-up, announced it has completed its Series A financing round led by Sunstone Capital and Statkraft Ventures with participation of Partech Ventures and internet entrepreneur Tim Schumacher.

The financing consortium has invested euro 4 million in the company to support an accelerated roll-out and extension of ZOLAR’s product portfolio.

“We founded ZOLAR on the promise to make the purchase of a solar system for any house owner as simple and transparent as possible,” said Alex Melzer, co-founder and CEO of ZOLAR.

“With the provided capital, we will pursue our vision to power every house with decentralized renewable energy systems making people’s lives energy independent,” said Gregor Loukidis, co-founder and COO of ZOLAR.

“For the first time ever, solar is at the stage where it has become the consumer’s best alternative. Not only is decentralized solar power lower cost than buying electricity from your utility, it will also heat your house and fuel your car. ZOLAR is the first full-service online provider for residential solar and the team is committed to take solar mainstream,” explains Jimmy Fussing Nielsen, managing partner at Sunstone Capital.

ZOLAR’s Online Configurator automatically creates a fixed-price offer for an optimal system configuration for their house. The configurator allows the user to customize a favorite system choosing from a wide range of solar module brands such as LG, Solarwatt or Trina and storage systems such as Mercedes-Benz, Varta or LG Chem. ZOLAR then takes care of the installation.

“We are impressed by ZOLAR’s strong growth in their first year of operation. Given the favorable conditions for residential solar and considering ZOLAR’s smooth customer journey, we expect that an increasing number of households will choose to buy their solar systems online”, explains Steffen Funck, Investment Manager at Statkraft Ventures.

editor@greentechlead.com