Prague-based Woltair (previously Topíte.cz), a climate tech startup, announced on Tuesday that it has secured €16.3M in a Series A round of funding led by sustainability fund ArcTern Ventures. Other investors participating in the round include Westly Group, Aternus, Kaya VC, Inven Capital, and Movens Capital.
Woltair says it will use the funds to grow the team, invest in product development, and expand to Poland, Italy, and Germany by the end of 2022.
Since gas prices across Europe are skyrocketing, consumers are increasingly inclined toward renewable energy sources. As a result, the demand for heat pumps and photovoltaic power plants has surged drastically.
However, it can be challenging for consumers to choose the right product that will best suit their household and then connect with a professional technician with the capacity for installation and commissioning.
Here’s where the Czech startup comes into play!
Woltair: What you need to know
Founded by Karel Náprstek, Jiří Švéda, and Daniel Helcl in 2018, Woltair makes it easy for consumers to choose heat pumps, providing homeowners and technicians with product recommendations, billing and servicing.
The company’s digital platform connects consumers, technicians, and supply chains, all in one place, to streamline the purchase and installation process.
Jan Hanuš, CEO of Woltair, says, “Woltair is powering the next generation of clean energy. Consumers are demanding products and services that make living a sustainable lifestyle easier and more affordable energy, and heating is one of the most difficult challenges to solve. The opportunity is here, but it needs an end-to-end digital platform to connect all parts of the ecosystem and make it seamless and easy. That’s why Woltair was founded – to empower customers to choose sustainable energy and connect them with the technicians to serve their needs. We’re delighted to be working with our new and existing investors on our next growth stage, and in particular to have the support and advice from experienced US investors to help us put renewable heat sources in more buildings across Europe.”
How does it work?
For the consumers, Woltair has a digital transparent advisory tool to help recommend the best technology for their home based on the size and profile.
Once a product is selected, the platform connects consumers to relevant technicians, handling the order experience and installation tracking online.
On the other hand, technicians use Woltair’s SuperFix productivity application to increase their productivity and efficiency in customer acquisition, administration, and material purchasing.
Since its inception, Woltair has served over 3,000 customers and is growing 4x year-on-year. Woltair claims to have saved more than 9,000 tonnes of Co2 emissions from the atmosphere.
Woltair has been built as a tech-agnostic platform. Besides solar panels and heat pumps, the platform can be adapted to include future energy solutions.
The Investors
ArcTern Ventures is a venture capital fund that provides early-stage capital to cleantech companies. The VC invests in startups that can significantly reduce GHG emissions and make an environmental impact.
The VC made its first investment from their Fund III, which recently reached an initial close with the fund targeting a $400M final close.
Kristin Aamodt, partner at ArcTern Ventures, says, “The demand for affordable and sustainable residential energy solutions, such as heat pumps and solar panels, is growing faster than ever before. But this nascent sector needs a transparent, digital partner to support customers on this journey. We have been impressed with the Woltair team – they have created the right product for the right time. Its unique, two-sided model has helped to build trust for both customers and technicians, and we’re confident this is the model to scale across Europe and beyond, to help customers not only save costs but also help fight climate change.”
