German climate tech unicorn 1Komma5 raises more funds to grow

1Komma5, a German energy solutions provider focused on solar power, energy storage and e-mobility solutions, has attracted a double-digit million euro investment from European venture capital firm 2150 to fund the growth of its business.

1Komma5 offers clean-energy infrastructure installation, including solar panels, energy storage, EV wallboxes and heat pumps, alongside its smart energy management system Heartbeat. The company is expected to generate EUR 500 million (USD 527.6m) in revenue this year.

The new capital will be used for the further development and expansion of the company’s software applications around Heartbeat, a new research and development (R&D) centre in Berlin as well as a test laboratory.

The latest investment comes after 1Komma5 earlier this year achieved unicorn status in a EUR-215 million financing round.

In the meantime, the German start-up set foot in the Spanish market in September with the acquisition of Barcelona-based Experta Solar.

The Hamburg-headquartered firm is pursuing aggressive growth across Europe and has set itself the goal of boosting its revenue to EUR 10 billion by 2030.

(EUR 1 = USD 1.055)

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