Prague-based Woltair, a company accelerating renewable energy adoption in homes through digital platforms, announced on Wednesday that it has secured €20.5M from existing and new investors.
The announcement comes nine months after raising €16.3M in a Series A round led by sustainability fund ArcTern Ventures.
The extension of the investment round was co-led by Woltair’s existing investor, The Westly Group, and new investor, Fifth Wall. ArcTern Ventures, KAYA, and Inven Capital also participated in the round.
Woltair says it will use the funds towards expanding its operations in Germany where the heat pump market grew by over 50 per cent in 2022.