Vänersborg, Sweden-based SunRoof, a startup developing fully solar 2-in-1 roofs, facades and solutions to support smart energy management, announced on Tuesday, September 6, that it has raised €15M in a fresh round of funding.
The round was led by Klima, the growth equity fund of Alantra focused on technology companies accelerating the energy transition.
The round also saw participation from various venture capital funds, including Inovo VC, SMOK Ventures, Alfabeat and Level2 Ventures, and business angels, including elite skier and entrepreneur Jon Olsson.
Lucille Bonnet, Managing Partner at Alantra Energy Transition, says, “Housing and transportation electrification will be key to accelerating the energy transition, and we expect decentralised solar to play a significant role to enable this. For re-roofing and newly built applications, the integrated solutions of SunRoof are an economical and environmental no-brainer and this represents a multi-billion addressable market. We are glad to partner with Sunroof to power the houses and commercial buildings of the future.”
Prior to this round, the company had raised €4.5M in April 2021. SunRoof has raised €21.5M to date.
Capital utilisation
SunRoof says that the proceeds from this round will help the company strengthen its position in its existing European markets by increasing its sales and production capabilities. The funding will also support the company’s growth in its existing core European markets, mainly Sweden, Germany, and Poland, as well as its leading position in the BIPV sector.
Lech Kaniuk, CEO and co-founder of SunRoof, says, “The energy transition is not a plan for the future, it’s the mission we must carry out now. This year has proved it already, with Europe overwhelmed with heat waves and shadowed by energy insecurity. SunRoof is on a mission of not only helping homeowners fulfil their own needs but also contributing to the future clean energy infrastructure. I’m delighted that Klima is joining us as an investor and as a partner. The Klima team has already supported us in establishing relationships with strategic partners, who will help us to further develop and deliver an end-to-end decentralised and smart energy system to our customers across Europe.”
SunRoof grew from 10 people in January 2020 to over 130 employees at the beginning of 2022, and is seeking a new key executive at the COO position to strengthen the top management team prior to its next rapid expansion planned from 2023 and onwards.
“Solar roof of the future”
Founded in 2013 by Karol Kaniuk, Lech Kaniuk, Marek Zmyslowski, and Rafal Plutecki, SunRoof builds 2-in-1 solar roofs and innovative façades that generate electricity without having to install traditional photovoltaic modules.
These façades consist of monocrystalline solar cells sandwiched between two sheets of glass. SunRoof’s modern, glass tiles measure 1.7 sq metres.
According to the company, its solar roofs are not only neat-looking and more productive per surface area of a roof, but also leave a lower CO2 footprint and use fewer resources and materials, compared to traditional roof and PV installations.
Once installed, homeowners can monitor, and manage their energy production and consumption via SunRoof’s energy app.
