European startups in residential solar have raised over €500 million in 2022
As Europe is turning towards renewable energy, startups in residential solar have raised an impressive amount of capital in 2022.
Over the past year, the skyrocketing fuel prices across Europe have increased consumer interest in alternative sources of energy, such as solar power. And as demand has been on the rise, 2022 was a good funding year for startups focusing on providing photovoltaic (PV) technology to residential customers. Founded in 2021, the company has secured high-tier investors such as Porsche and is introducing an interesting business strategy: aggregating individual companies that offer solar services and bundling them together. Founded in the summer of 2022, the startup has managed to raise EUR6.4 million within six months. The technology enables users to preview solar panel installation through a 3D model, estimate energy savings, and calculate their positive environmental impact through a decrease in CO2 emissions.