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BDO advises Energy Impact Partners and GIC on Series-C financing round in greentech startup zolar

21 June 2022

BDO has advised US investor Energy Impact Partners and GIC, Singapore’s sovereign wealth fund, on financial aspects of a EUR 100 million Series-C investment round in Berlin-based startup zolar. The round was joined by existing investors Inven Capital, Heartcore Capital, Statkraft Ventures and Pirate Impact Capital.

Greentech startup zolar GmbH was founded in 2016 by Alex Melzer and Gregor Loukidis in Berlin. The company offers fixed-price photovoltaic systems that homeowners can customise, compare and order online using a digital platform. zolar's broad craftship partner network takes care of on-site assembly. The company employs around 300 staff.

 

Matthias Dill, Managing Partner Europe at EIP, says: ‘The demand for green energy will steeply accelerate in the world’s efforts to a net-zero future. Climate tech will drive the modern economy accelerating the transition to net-zero greenhouse gas emissions. Our investment in zolar is part of our mission to support startups worldwide that are resolutely driving the path to a sustainable future.’

 

With the freshly raised capital zolar intends to add an energy management system to its app in which dynamic electricity tariffs are taken into account and to expand its existing craftship partner network, which currently includes 500 local craft businesses.

 

BDO advisors:

 

Financial Due Diligence (Corporate Finance/Hamburg):

Martin Studier (leading), Jan-Christian Steen, Nassim Saleh