Germany's 1Komma5 secures up to EUR 100m to back growth

1Komma5, a German energy solutions provider focused on solar power, energy storage and e-mobility solutions, expects to obtain banking financing of up to EUR 100 million (USD 107.9m) to fund its growth and potentially reach the capital market, the company said on Wednesday.

As a first step, 1Komma5 will receive EUR 52.5 million from three banks, BNP Paribas (EPA:BNP), Deutsche Bank AG (ETR:DBK) and LBBW. At a later stage, the funding facility could be extended to up to EUR 100 million.

1Komma5 said it will use the financing for further growth and acquisitions. The firm, which became a unicorn in a EUR-215 million financing round in June, also plans to invest in its technology division to further develop its smart energy management system Heartbeat.

Notably, the financing is “a crucial step towards the capital market,” CFO Micha Grueber noted in the statement.

According to information published by German newspaper Handelsblatt, the unicorn aims for a potential initial public offering (IPO) in 2025.

The latest financing comes after 1Komma5 attracted a double-digit-million-euro investment from European venture capital firm 2150 in October.

Founded in 2021, the German startup offers clean-energy infrastructure solutions for homes, including solar panels, energy storage, EV wallboxes, and heat pumps in addition to the Heartbeat software for smart energy management.

(EUR 1 = USD 1.079)

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