Greentech company Zolar Raises €10 Million
Berlin, August 27 2019 The Berlin-based start-up Zolar raises
a €10 million Series B-round. The lead investors of the Series B financing round
are BayWa r.e. Energy Ventures and the Czech venture capital fund Inven Capital.
Both venture capital funds are among the leading European capital providers for
successful digital energy and mobility solutions. The existing investors,
Heartcore Capital, Statkraft Ventures and Partech also participated in the
round.
Zolar Digitalizes the Sale of Photovoltaic Systems
Since it
was founded in 2016, Zolar has offered photovoltaic systems through its digital
end-to-end configuration platform. The platform was designed to be particularly
user-friendly so that individuals with limited expertise could make informed
choices. The start-up has simplified access to renewable energies and enables
its customers to effectively contribute to the fight against climate change.
The Zolar online configurator seamlessly takes over the entire concept of your
own photovoltaic system, from planning to insurance and financing, all the way
to the final installation. The digitalized process makes it easy for customers to
purchase customized photovoltaic solutions at the fixed price specified in the
online tool. An algorithm recommends suitable products, and the service is complemented
by expert consultants. Experienced technicians from the partner network install
the photovoltaic systems.
“We are very happy to have experienced and
internationally successful venture capital investors such as BayWa r.e. Energy
Ventures and Inven Capital on board. Access to their expertise as well to the
investors’ global network will contribute towards expanding our digital
platform and increasing our network of installation partners. Thanks to their
support, more people are able to generate the energy they need themselves,
while being virtually independent of energy suppliers,” Alex Melzer, CEO of Zolar stated.
Committed to 100% renewable energies
Founder and
CEO of Zolar, Alex Melzer, has been working in the solar sector for more than
10 years, and has already successfully built up several companies in the solar
industry in the past. Melzer’s stated purpose is a livable future that is based
on 100% renewable energies. Zolar supports the global movement of “Fridays for
Future”, sharing the view that the economy needs to fully support and be the
amplifier for the movement started by the students. BayWa r.e. Energy Ventures
and Inven Capital’s investments in greentech emphasize that the technical
alternatives called upon by the youth already exist and that they are being
funded successfully. Melzer points out that, “with the expansion of privately generated solar energy, Germany,
Europe and the world could technically be supplied with 100% renewable
energies. A fast fossil-fuel phase-out and a sustainable energy and mobility
transition are thereby no longer merely a vision of the future.”
“Zolar has the solution to one of the most
pressing issues for photovoltaic customers: the online configurator has made planning
a solar system as easy as never before”, explains Ulrich Seitz, Managing Director of
BayWa r.e. Energy Ventures. “Trends such
as electric mobility come with increasing electricity needs and rising costs.
This often leads to the desire to become grid-independent by means of generating
power yourself. The installation of photovoltaic modules on private homes is
often quite complex, time consuming and unclear, particularly during the
planning process. Zolar, on the other hand, ensures complete cost and
performance transparency, a fixed price guarantee as well as integrated leasing
and financing services. Together with our network of partners and access to
photovoltaic modules, we are directly creating an added value for Zolar.”
Zolar Project Center – The digital tool for local
installation partners
As a
one-stop tool that includes everything needed for residential solar energy
system, Zolar not only supports homeowners, but also local installers. Zolar
cooperates with a large network of installation technicians across Germany. The
start-up provides ready-to-construct projects and automates the most
time-intensive parts of the project regarding customer acquisition and order processing.
The Zolar Project Center combines all project-related information; the projects
are reserved digitally by the partner. In the next development phase, the
installation technicians’ route become more plannable and all financial
transactions can be processed online. These completely digitalized and
standardized procedures alleviate the workload for the installer and allow to focus
on the installation of the photovoltaic systems.
“Zolar
is the digital partner for clean energy for homeowners,” says Vincent Gregoir, Investment Manager
at Inven Capital. “With the automated platform, the start-up offers a first-class
customer experience and a transparent price structure. At the same time, the
online platform offers independent installation companies the opportunity to
concentrate on their core business – the installation. Zolar takes care of the
supply chain, procurement and digital project management. The demand for
electricians on the European market is increasing and Zolar is perfectly
positioned to accompany this transition.”
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About Zolar
The
greentech company Zolar offers photovoltaic systems, which homeowners are able
to custom plan, compare and order online, at a fixed price. By means of the
Zolar online configurator, homeowners are able to customize the components of
their solar energy system according to their needs and will receive a personal
consultation at the same time from one of our solar energy experts. Zolar’s
extensive network of local partner companies install the systems on-site. The
solar energy systems produce electricity that can be used both for daily
household use as well as for e-mobility.
More information: zolar
Press contact
Lina Wölm
Head of Marketing & Communications
Phone: +49 30 398 218 443
Email: lina.woelm@zolar.de
Web: www.zolar.de
About BayWa r.e. Energy Ventures
BayWa r.e.
Energy Ventures was founded in April 2018 and are specialized in digital
solutions, storage and e-mobility. Their focus is on innovative start-ups from
the entire energy sector that invest in the decisive early development phases as
lead or co-investors. Through its stability and financial support, BayWa r.e.
Energy Ventures operates as an independent corporation and is able to guaranty
start-ups maximum independence, quick decisions and flexibility. The
Munich-based team is managed by Ulrich Seitz, a venture capital manager with
more than 10 years’ experience in the start-up sector.
More
information: BayWa r.e. Energy Ventures
About INVEN CAPITAL
INVEN
CAPITAL is a venture capital fund of ČEZ Group supported by the European
Investment Bank (“EIB”) with EUR 240 million at its disposal. EIB financing
uses funds from the European Fund for Strategic Investments (“EFSI”). INVEN
CAPITAL’s strategy is to seek opportunities for investing in innovative and
growing smart energy businesses in Europe & Israel. It primarily focuses on
later-stage growth investment opportunities with a sound business model proven
by realized earnings and long-term growth potential. INVEN CAPITAL’s goal is to
generate long-term value through active collaboration with the companies it
invests in and to actively support organic or acquisition-based growth
strategy. Companies in INVEN CAPITAL’s portfolio can take advantage of CEZ Group’s
extensive expertise in the energy sector, client base, and technology synergies
for their further development. The fund is a full member of Invest Europe
(https://www.investeurope.eu —European Private Equity and Venture Capital
Association) and CVCA (Czech Private Equity and Venture Capital Association).
More
information: INVEN CAPITAL
About Partech
Partech is a global investment firm with offices in San Francisco, Paris, Berlin and Dakar. We bring together capital, operational experience and strategic support for entrepreneurs at seed, venture and growth stages across multiple continents, with over €1.3B investment capacity. Investments range from $200K to $50M in a wide range of technologies and businesses for enterprises and consumers, from software, digital brands and services, to hardware and deep tech across all major industries. Companies backed by Partech have completed more than 20 initial public offerings and more than 50 strategic exits above $100M.