1Komma5° in a €200 million funding round backed by eCapital, BTOV Ventures, Porsche Ventures, Eurazeo and Blue Elephant Ventures

1Komma5°, a Hamburg, Germany-based provider of solar power, energy storage and e-mobility solutions, announced completing a €200 million ($219M) capital funding round.

The money was raised from investors including eCapital, BTOV Ventures, Porsche Ventures, Eurazeo, Blue Elephant Ventures and the Haniel and Schuerfeld families.

The proceeds will be used for acquisitions, investments in digitalisation and the development of the company's energy IoT platform

1Komma5°, founded in 2021 by CEO Philipp Schroeder, works for the development of a platform uniting all products and services of the company in the area of solar power, energy storage systems, heat pumps and charging infrastructure for electric vehicles. The platform should make the complex processes of buying and installing a photovoltaic system and a battery or a heat pump easier for clients.

The company says it sold and installed about 35,000 carbon-neutral energy systems. In the second half of 2021, it generated €23 million in revenues.

1Komma5° previously announced getting funded by Porsche at the end of 2021.