German Solar Focused Startup 1KOMMA5° Turns Unicorn With €430M Funding Round

By Saur News Bureau/ Updated On Wed, Jun 28th, 2023

Highlights :

1KOMMA5° valued at $1 billion, making it the newest Unicorn
With the funding, 1KOMMA5° plans to expand to Spain, Italy, Austria and Switzerland by the end of 2023

German Solar Focused Startup 1KOMMA5° Turns Unicorn With €430M Funding Round

1KOMMA5° a Hamburg, Germany-based startup that has 1.5°C greenhouse emissions limit integrated in its name has become one of the fastest climate unicorns in Europe. It follows another German startup that raised significant funding recently namely Enpal which completed a round where it secured €430 million commitments.The German startup has raised €430M in a Series B round that helped it reach a valuation of €1B in just 23 months since launch.

1KOMMA5° had planned to raise € 150 million ($164.2 million), but went on to exceed the target and ended up raising € 215 million ($235.4 million) in equity.

Philipp Schröder

Philip Schroeder, CEO 1KOMMA5°, said, “The 1.5-degree climate target requires speed in implementation, and with this round we are doing our part to make as many buildings CO2-neutral as quickly as possible.” the startup currently has a presence inits home market Germany besides Sweden, Finland, and Australia. Now it will expand to more markets in Europe.

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With the appointment of Ben Kortlang as the new vice chairman of the company board, and G2VP as its new lead investor, 1KOMMA5° is will be investing in its new technology development laboratory in Berlin.

1KOMMA5°’s focus is on installation of solar power systems, heat pumps, energy storage, charging infrastructure and smart energy management.

With its recent acquisition of market leader Viasol in Denmark, the company has now expanded to six markets.