BayWa r.e. Energy Ventures, together with other existing investors, including Czech venture capital Inven Capital, Heartcore Capital, Statkraft Ventures and Partech, has reinvested in greentech start-up Zolar. The series B investment round adds a further 15 million of investment, bringing total investors’ total capital to €25 million.
Ulrich Seitz, Managing Director at BayWa r.e. Energy Ventures, commented: “We are excited to support the further rapid growth of a company that is advancing the energy system’s transition towards a sustainably future. Zolar’s approach to digitize the buying and PV-installation decisions and to manage the respective steps is unique in a strongly growing market with an enormous potential.”
Since it was founded in 2016, Zolar has offered photovoltaic systems through its digital end-to-end configuration platform. The photovoltaic and storage technology covers the consumer’s energy needs and supplies green energy within the home. Zolar has also developed its own Zolar Online Configurator in response to the growing need from customers to plan solar systems digitally and conveniently from home.
BayWa r.e. Energy Ventures’ reinvestment will help Zolar in the scaling up of its business model and further international expansion.
Founded in April 2018, BayWa r.e. Energy Ventures is specialized in digital solutions, storage and e-mobility. Its focus is on innovative start-ups from the entire energy sector. Through its stability and financial support, BayWa r.e. Energy Ventures is able to guaranty start-ups maximum independence, quick decisions and flexibility.