Madrid-based Samara, a startup focused on supporting households in their energy transition, announced on Tuesday that it has secured €9M in a Series A funding round co-led by Amsterdam-based Move Energy and Green Generation Fund.
Other investors, such as Ring Capital, Athletico Ventures, Seaya, and Pelion Green Future, also took part in the funding round.
The Spanish company will use the funds to accelerate the national rollout and continue developing its proprietary technology platform.
Samara: Assisting households with energy transition
Founded in June 2022 by Iván Cabezuela and Manel Pujol, Samara is a startup focused on assisting households in their energy transition.
The company’s primary goal is to become a decentralised energy provider for consumers.
Initially, Samara will offer residential solar panel systems, batteries, EV chargers, and heat pumps.
By providing financing for these solutions, Samara aims to make participation in residential energy transition accessible and affordable for everyone.
Additionally, the Spanish company also develops software tools that enable households to manage their energy consumption and offer grid flexibility.
“We have witnessed the beginning of a process that will revolutionize the way households consume energy. In the coming years, we anticipate an acceleration in the adoption of new green technologies that will contribute to the electrification of homes and mobility. Electricity is the worst-rated industry by consumers due to a lack of transparency, and most customers hardly understand their electricity bills, so our vision is to become the most trusted partner for consumers. We want to continue to offer the best consumer experience throughout this transition towards a more transparent, affordable, and green energy model,” says Iván Cabezuela.
The company has its engineering, installation, software, and energy community management teams, among others, logistics centers in Madrid and Barcelona, and operates in 74 per cent of the national geography, aiming to expand throughout Spain this year.
The investor
Move Energy, a venture capital fund based in Amsterdam invests in European startups and scaleups that focus on the decarbonisation of the transport, energy, and buildings sectors.
With the recent investment in Samara, following previous investments in Big Ass Battery and Eco-Movement, Move Energy aims to strengthen its mission to accelerate the energy transition by providing capital to innovative companies.
Frederik de Hosson, the partner at Move Energy, highlights, “Samara has demonstrated that decarbonising the residential space and delivering a great customer experience can go hand in hand. We are highly impressed by the team and are convinced that Samara has all the ingredients to make its holistic clean home energy solutions accessible to many households and communities in Southern Europe. We are excited to be part of Samara’s journey and look forward to contributing to its growth.”
With over €100M in fund size, the Green Generation Fund focuses on early-stage investments, from pre-seed to Series A, across Europe and North America.
“Samara’s remarkable growth in Spain is a clear testament to the company’s dedication to simplifying and making the home energy transition affordable for everyone. We have been impressed by the team’s exceptional execution strength. As we continue our mission toward a resilient and sustainable future, the Green Generation Fund is thrilled to partner with what we anticipate will become one of the European leaders in home decarbonisation and energy independence,” says Janna Ensthaler, Founding Partner at Green Generation Fund.
Read the orginal article: https://siliconcanals.com/news/startups/spanish-startup-samara-raises-9m/
