Africa-focused solar start-up Circadian raises EUR 1.25m

Circadian Technologies, a Berlin-based start-up that provides energy management system (EMS) hardware and Software as a Service (SaaS) solutions for solar developers and asset owners in frontier market countries in Africa, has raised EUR 1.25 million (USD 1.33m) in a funding round led by BayWa r.e. Energy Ventures.

German renewables company BayWa r.e. said that its venture capital arm was joined in the investment round by Rockstart Energy, Persistent Energy Capital, Great Stuff Ventures, Tofino Capital, and Ralicap Climate. The funding represented BayWa r.e.'s first investment in Africa.

Founded by Mike Rosenberg and Max Boit, Circadian Technologies offers hardware and software solutions in grid-challenged emerging markets in Africa. Its services enable commercial and industrial (C&I) companies, starting with telecom tower companies, adopt renewable energy systems as an alternative to diesel generators.

Circadian will use the funds to expand across Africa and improve its platform.

“We want to empower renewable energy installers and strive to be the catalyst for the mass adoption of decentralised energy in growth markets. Circadian is currently scaling across Africa, where we want to extend the team, build out the platform’s functionalities and drive further growth. The backing of our investors will be a tremendous help for this,” said CEO Mike Rosenberg.

(EUR 1.0 = USD 1.061)

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