Berlin-based and Barcelona-headquartered greentech startup Sunhero raised EUR 10 million in recent funding. Planet A and Vorwerk Ventures led the financing for the company. Meanwhile, Redstone and early backers, Speedinvest and All Iron Ventures joined in the funding.
Purpose of financing for Sunhero
With the latest financing, Sunhero seeks to strengthen its position in the Spanish market. It also has plans to develop software and expand its product line.
Meanwhile, Sunhero seeks to broaden its support plans to diversify the product portfolio. It has plans to include electric vehicle (EV) chargers and a number of other electrification items.
What the co-founders have to add
Stefan Braun, COO, further commented, “We have spent the past two years laying a strong foundation for delivering solar PV solutions tailored for customers’ needs. With the backing of this funding round, we will be able to develop software tools to streamline our processes and optimize our logistics. Our goal is to set a new standard for operational excellence in our industry. We could not be more thrilled to have the necessary resources to make that vision a reality.”
In addition, Sunhero CEO and co-founder Christopher Cederskog said, “Recent policy changes, the growth in EVs and global geopolitical struggles have resulted in a rapid increase in customer demand for independent and clean energy in Spain. This is a perfect storm for solar. We have all the potential to shake up the market and deliver outstanding solutions to scale up consumer transition to solar.”
What the investors have to add
Vorwerk Ventures Partner Sascha Guenther said, “We are convinced that the global photovoltaic market will continue to grow strongly. In Spain, where Sunhero is active, capacity more than doubled last year alone. The Sunhero team will do an excellent job with their long experience in managing fast-growing startups like Airbnb and Audibene, and we’re happy to be part of their journey to support them.”
Besides, Jaume Ayats Soler, an investor at All Iron Ventures, said, “Sunhero has positioned itself as the category leader in one of Europe’s most attractive residential solar markets over the past 12 months. With a proven track record and a stellar execution, we are excited to double down on Sunhero and continue to back them in their journey to become the leading home electrification provider in southern Europe and beyond.”
Nick de la Forge, Partner and Co-founder at Planet A Ventures, said, “Solar is, without a doubt, one of the most economical ways to produce redundant renewable energy, and Sunhero is in a critical position to become not only one of the European leaders supplying residential solar and storage to millions of households but also to accelerate the energy transition significantly.”
About Sunhero
Christopher Cederskog and Stefan Braun launched the company in 2021. Sunhero provides solar installation and management services to residential consumers. It seeks to tap into a big gap in the Spanish market.
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