Home Funding Solar Roofs startup SunRoof acquired €2m in funding

Solar Roofs startup SunRoof acquired €2m in funding

Solar Roofs startup SunRoof acquired €2m in funding
Image Credits : SunRoof

SunRoof, the Polish-Swedish startup that develops a 2-in-1 roof incorporated with software support for energy management, announced 12th October 2020 about raising €2m funding. This funding round was led by SMOK Ventures in which LT Capital, FD Growth Capital, EIT InnoEnergy, KnowledgeHub, and some business angels also participated. The company is planning to use this investment for its expansion in the European markets.

In August, the company acquired Redlogger, an enterprise that builds software and hardware that supports renewable energy producers. And this funding came just after a few months after its first acquisition. Their further plan is to initiate an e-commerce platform to sell their surplus energy generated, and they are going to begin with the Polish Market. Their ambition is to become the European counterpart of Tesla. The startup spent its initial years testing and building its technology, which gained momentum in 2018 when the seasoned entrepreneurs Marek Zmyslowski, and Rafal Plutecki joined on-board.

The investors believe that in a few years, the company has the potential to stand amongst the most recognized labels from Eastern and Central Europe. The SunRoof built by the company is the environment friendly and efficient solar roof available in the market. In the longer rain, their objective is to replace all of the roofs with SunRoofs that have the ability to produce enough electricity for people globally to ensure natural sustainability. The functionality of SunRoof solar roofs set up new standards with its protection, ventilation, insulation properties. Along with the same, they can also produce electricity. They can be integrated with the structure of the building. Being lightweight, simple, and easy to install; they can totally substitute the multi-layered roofs. 

 About SunRoof

Sunroof
Sunroof

The company was established in 2013 by Lech Kaniuk, Rafal Plutecki, and Marek Zmyslowski. It is headquartered in Swede, United States. The innovative 2-in-1 solar roofs offered by the company generated electricity without the need to install photovoltaic modules. With their least carbon footprint and highest efficiency, they are the best replacement for any regular roofs. 

About SMOK Ventures

SMOK Ventures
SMOK Ventures

SMOK Ventures is a European Venture Capital that invests 100k to 1M US$ for the budding startups in CEE and Poland regions. It is a newly founded VC that was established in March 2019 by Borys Musielak, Paul Bragiel, and Diana Koziarska. The private equity firm is headquartered in Warsaw, Poland. It primarily invests in gaming, Artificial Intelligence, AR/VR, fintech, and marketing technology companies. It has made four investments to date. 

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