Sonnenbatterie GmbH, a Wildpoldsried, Germany-based provider of smart energy storage systems, closed a $9.4m round of equity financing.
The round was led by new investors Chrysalix SET and Munich Venture Partners with participation from existing investor eCAPITAL.
The company intends to use the funds to accelerate and secure the expansion both at home and abroad.
Led by Christoph Ostermann, Managing Director, Sonnenbatterie provides home owners, farmers and businesses with lithium storage systems with a storage capacity range of 4.5 kWh to 60 kWh and above. The company has sold close to 4,000 units since entering the market in 2011 in Germany, Austria, Switzerland, Italy, Luxembourg and Slovakia. In 2014, it began sales operations in the United States where it is actively recruiting channel partners to serve as Sonnenbatterie Centers.
Sonnenbatterie also has offices in Los Angeles, California.