SunRoof, a Swedish start-up offering integrated solar roofs, today announced it has raised EUR 15 million (USD 15.2m) in a funding round led by European growth equity fund Klima Energy Transition.
The company said that the capital will help it bolster its position in existing markets, mainly Sweden, Germany and Poland, by increasing its sales and production capabilities.
SunRoof is a provider of 2-in-1 solar roofs and innovative facades. It says it is offering the most powerful and resource-efficient building-integrated solar roofs on the market at the moment.
Also participating in the funding round were venture capital funds such as Inovo Partners, SMOK Ventures, Alfabeat and Level2 VC, as well as business angels, including skier and entrepreneur Jon Olsson. The investment means SunRoof has so far secured a total funding of EUR 21.5 million. The company has expanded from 10 workers in January 2020 to more than 130 as of the start of 2022.
“For re-roofing and new built applications, the integrated solutions of SunRoof are an economical and environmental no brainer and this represents a multi billion addressable market,” according to Lucille Bonnet, managing partner at Alantra Energy Transition. Klima is a fund of financial services firm Alantra, with Spain’s Enagas as its cornerstore investor.
(EUR 1 = USD 1.015)
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