A new unicorn is born. Hamburg-based 1KOMMA5° has reached a valuation of over $1 billion in just 23 months since its inception. This remarkable milestone stands as a testament to the unwavering dedication and hard work of the entire team. With G2VP as their new shareholder and lead investor and the appointment of Ben Kortlang as Vice-Chairman of their board, 1KOMMA5° proudly boasts the support of one of the most esteemed U.S. cleantech investors. As they continue their mission to revolutionise the sustainable energy landscape, they are poised to shape a brighter and cleaner future for all.
Driven by their vision of a world where wind and sunlight provide free, everlasting energy, 1KOMMA5° has successfully raised an impressive €215 million, surpassing their target volume of €150 million through oversubscription. Additionally, they have allocated an extra €215 million in re-participation options, further empowering their investment capabilities. This robust capital injection will fuel their pursuit of vertical integration of the value chain and reinforce their commitment to technology development centred around Heartbeat their energy manager that enables users to optimise the energy demand at their homes, and their app which gives real-time access to energy flows and historical data, keeping all energy system information in one place
Notably, 1KOMMA5° has expanded its reach into six new markets with the acquisition of Viasol. This strategic move sets the stage for continued expansion into Spain, Italy, Austria, and Switzerland by the end of 2023. By entering these markets, 1KOMMA5° aims to provide sustainable energy solutions to a wider customer base and spearhead the development of a cleaner, greener future.
Innovation and technology can be found at the core of 1KOMMA5°’s endeavours. They are also proud to announce their substantial investment of a high double-digit million amount in a new research and development site and a team located in Berlin. This infusion of resources aims to catalyse advancements in energy management, virtual power plants, and device connectivity, with a special focus on Heartbeat, their proprietary energy Internet of Things (IoT) system.
By 2024 1KOMMA5° announced that Heartbeat will be compatible with existing energy devices, expanding their reach and impact. This breakthrough development marks a significant milestone in the creation of the largest virtual power plant, solidifying its position in shaping a sustainable energy future.
Driven by their commitment to creating a better world for future generations. With their climate-neutral energy solutions for homes, individuals are expected to reduce their carbon footprint while enjoying energy cost savings. Collaborating with experienced regional expert companies across 40 locations in Germany, Sweden, Finland, and Australia, 1KOMMA5° mission is to ensure that the best possible sustainable energy solutions are accessible to all, paving the way towards a cleaner, greener future.
Read the orginal article: https://www.eu-startups.com/2023/06/revolutionising-the-energy-landscape-1komma5-reaches-the-unicorn-status/
