Zolar raises €15M to expand its solar network
Zolar, the leading online photovoltaic company offering solar and battery storage systems including installation for residential houses, has announced today that it has raised €15M in new funding. This takes the total investment from the Series B launched in 2019 to €25M. This round was led by Czech venture capital fund Inven Capital, with previous investors Heartcore Capital, Statkraft Ventures, BayWa r.e. Energy Ventures and Partech also reinvesting. This firmly underlines the widespread acclaim Zolar's solution is receiving, with demand coming from all over the world after having double their year-on year revenue despite the challenges posed by the Covid19 pandemic.
The new funding will allow Zolar to establish itself as the primary consumer brand for solar systems. It is looking improve aspects such as the digital customer platform, the Zolar Online Configurator, and the Zolar Project Center which will aid Zolar on its journey to become a key data provider for accelerated energy transition and provide customers with relevant energy data. Zolar will use its wealth of experience together with the additional capital to expand on an international capacity.
The Zolar Project Center will also be further developed as an important strategic initiative. This will allow Zolar to support their installation partners in digitizing their internal processes; installation companies will benefit from scheduled orders, secure payment and digital project implementation, which will also make them more crisis-proof. All these plans have allowed Zolar to look to recruit news members to their team and they are currently hiring for over 40 positions for their Berlin office. It is an exciting time to be a member of the Zolar Team!
CEO of Zolar, Alex Melzer, said: "The more we grow, the faster we can revolutionize the energy industry together with our customers and help to avert the climate crisis. Zolar stands for climate protection straight from the bat, we want to be the catalyst for an energy revolution in every household. We stand for clean electricity and a future worth living. Anyone thinking of solar systems should think of Zolar first. The new funding paves the way for us to become the go-to company for clean energy and individual solar systems, to expand internationally and to establish ourselves as a data provider"
Congratulations for the funding round from everyone at Partech.