Technology

Reonic raises €13 million to help small installers of green technologies such as heat pumps and solar panels

Published

on

European regulators are pushing for greener energy. The REPowerEU plan calls for 10 million more heat pumps by 2027, and solar panels are also on the rise.

However, most installations are performed by small corporations that might increase efficiency through higher work processes.

This is where the German startup was born Rheonic is available in. “We give renewable installers the tools to be extremely efficient, and we do that primarily by providing them with scheduling and workflow software,” said co-founder Tristan Menzinger (seated on the proper within the photo above).

Menzinger, Lars-Manuel Schneider (seated in the center within the photo above) and their fellow student and third co-founder Udo Sill worked at a research institute investigating the use of renewable energy sources. This piqued their interest in founding Reonic, but they’d to listen to real customers to bridge the gap between theory and knowledge. They concluded that installers needed comprehensive software, not separate tools.

Startups in other sectors have come to similar conclusions, but it could be a troublesome sell when your target market is already set of their ways. Reonic guarantees it’ll be price it by helping installers sell faster and sell more. “The ability to combine heat pumps with solar systems, for example, doubles sales volume,” Schneider said.

Unlike some competitors with narrower niches like solar, Reonic focuses on renewable energy as an entire, whether it’s photovoltaics, battery storage systems, wall boxes or heat pumps. Beyond a selected type of installation, the larger goal they see is for each household or business to change into energy self-sufficient, Schneider said. “And that’s something at the core of our product that always works the same way, no matter where we are.”

The promise of accelerating the adoption of renewable energy sources is clearly resonating with investors; in a bid to expand across Europe, Reonic just raised €13 million in a Series A funding round led by Northzone, with participation from existing investors Point Nine and Puzzle Ventures.

This is consistent with enterprise capitalists’ preference for climate-focused startups, which, when entering the market, expose themselves to market risk relatively than the scientific risk related to inventing a brand new technology.

Even then, the market risk remains to be real. Aurora Solar, a U.S. company that gives software that helps solar installers manage sales, laid off 20% of its staff of about 500 earlier this 12 months after losing $523 million.

But with 21 team members and €16 million in funding, Reonic is more like smaller corporations like Arch, EnerfloLun and Solar Spoon.

Image sources: Rheonic

The company can also be seeing growth typical of early-stage corporations which have found product-market fit, tripling its recurring revenue previously six months, the corporate said. “While we’ve had real momentum since we launched three years ago, we honestly feel like we’re just getting started,” Schneider said.

While subsidies and other regulatory frameworks vary by country, Reonic’s internationalization is being driven by its founders’ belief that it could enter latest markets without much customization. After the DACH region, the corporate entered the market in France and also held a soft launch in Italy, said Menzinger, who oversaw much of the method.

The company remains to be headquartered in Augsburg, Bavaria, but almost half of its staff is predicated in Berlin, where a second office opened earlier this 12 months to help recruit international talent. It’s one other major expansion that the brand new round of funding will fund.

This article was originally published on : techcrunch.com

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

Exit mobile version