Canadian-Mexican solar tech firm Solfium raises USD 3m in seed round

Canadian-Mexican solar technology start-up Solfium Inc said on Monday that it has closed a USD-3-million (EUR 2.7m) seed financing round at Mexico’s tech-focused BIVA stock exchange.

The round was backed by global investors such as US venture capital firm RaliCap, Norway’s Katapulut, Chile’s Savia Ventures, Canada’s Propulia Capital and Mexico’s Redwood Ventures.

Solfium's goal is to accelerate the adoption of distributed solar power, initially in Mexico.

“We are delighted by the breadth and depth of support the Solfium project has received from this group of highly regarded investors. Each brings specific skill sets and profiles to support Solfium on its ambitious journey to dramatically accelerate the adoption of distributed solar energy.” commented Andres Friedman, Solfium’s co-founder and CEO.

The company says its tech-enabled ecosystem streamlines processes for consumers, installers, and component manufacturers, offering an end-to-end digital platform for retail customers to adopt solar energy. For corporate clients pursuing net zero targets, Solfium delivers shovel-ready solutions to decarbonise their value chain. Solfium says that it collaborates directly with manufacturers to provide top-quality components and pass on cost savings to customers.

(USD 1.0 = EUR 0.912)

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