Sunvigo Raises €19.5M in Funding

sunvigo

Sunvigo, a Cologne, Germany-based provider of residential solar systems, raised €19.5M in funding.

Future Energy Ventures, Triodos Energy Transition Europe Fund and existing shareholders invested €12M growth capital. DKB AG provided another €7.5M to finance its residential solar PV systems, batteries and e-vehicle charging solutions.

The company intends to use the funds to scale its smart solar-as-a-service solution and further develop its virtual power plant.

Founded by Dr. Michael Peters and Dr. Vigen Nikogosian, Sunvigo offers a smart solar-as-a-service proposition to owners of single family houses. The company designs, builds and operates high quality residential solar systems. In addition, Sunvigo provides battery storage, e-vehicle charging and a green grid power plan. Its customers can choose between two financing options for the solar system: a solar power contract or a full purchase of the system.

The company was founded in Cologne, Germany in 2020 and is currently active in the German market with a team of 130 people.

FinSMEs

18/04/2023