These eight solar companies managed to lock down funding amid this pandemic. All of these start-ups are working to improve and develop new solar technology across the world. Many are quickly becoming leaders in the solar industry and expanding rapidly as they put this funding to work.
Johannes Burgard, Johannes Dahl, Konrad Perenyi, Steffen Mangold founded this start-up in 2017. Located in Berlin, Germany, Solytic is a data-driven company working to optimize performance of PV solar plants. They have designed hardware to monitor the PV plants which is currently in use across forty-two countries globally. By using data to analyze unused potential, they directly reduce licensing costs and make the energy industry more profitable.
Total Funding: €8 million
Last Funding Date: February 25, 2020
Last Funding Amount: €5 million
Last Funding Investors: Vattenfall AB
ZunRoof is a solar start-up founded in 2016 by Pranesh Chaudhary, located in Haryana, India. They focus on all aspects of solar rooftop systems from installation to management. There have been inconsistencies in India with the reliability of electricity, so this solar alternative betters the environment and makes electricity more available to more of the public. ZunRoof also developed an app to help customers manage the solar panels from design to diagnostics. ZunRoof aims to make this process efficient and simple for the consumers.
Total Funding: $4.7 million
Last Funding Date: March 26, 2020
Last Funding Amount: $300,000
Last Funding Investors: Godrej Family Office
Kevin Hell founded mPower Technology as an innovative solar cell technology startup in New Mexico. mPower Technology is focusing on the improvement of the solar power system’s technology in order to innovate the future of solar globally. They have developed a new technology called DragonSCALES, which can be added to the architecture of the unit to lower weight, costs, and improve ease and flexibility of the systems. This would make solar power more efficient and lower prices and installation costs.
Total Funding: $4.4 million
Last Funding Date: March 24, 2020
Last Funding Amount: $1.85 million
Last Funding Investors: Cottonwood Technology Fund, NMA Ventures
Today’s Power was founded in 2014 in Little Rock, Arkansas by Arkansas Electric Cooperatives and is currently led by CFO Michael Henderson. Their mission is to increase the quality of life within communities in a sustainable and fiscally responsible manner. Today’s Power has set high standards for their materials and efficiency of solar equipment, in order to ensure the maximum value for their consumers. They manage the entire process from the original site analysis to the maintenance and monitoring aspects required of solar power.
Total Funding: $21.4 million
Last Funding Date: March 19, 2020
Last Funding Amount: $21.4 million
Last Funding Investors: Undisclosed
LYS Energy develops and manages solar PV projects within commercial, industrial, and public sites. The company is based in Singapore and founded by CEO Lionel Steinitz who aims to “ stay nimble with the ever-changing industry with our unique capability to offer a holistic renewable energy experience to our customers.†Becoming a prominent vector of the solar industry is their main goal in hopes to better the climate and improve the solar industry to become smarter and autonomous. Through the Power Purchase Agreement, their customers are able to purchase the solar generated electricity at lower tariffs than the typical utility tariff, which promotes low and predictable costs for a more sustainable source of power.
Total Funding: SDG 14 million
Last Funding Date: April 1, 2020
Last Funding Amount: SDG 14 million
Last Funding Investors: United Overseas Bank
Solaris Offgrid is a London based company focusing on providing solar to low income communities. Siten Mandalia is the CEO and cofounder as of 2014. By adopting a paygo model of business, they have been able to bring this profitable and environmentally friendly energy to areas of low income communities. Acumen, GAIA, InnoEnergy and Compass venture capital are among the many investors who have contributed to this cause. Solaris’s work also includes connecting local suppliers and manufacturers to help them expand and operate in a sustainable way.
Total Funding: Undisclosed
Last Funding Date: April 17, 2020
Last Funding Amount: Undisclosed
Last Funding Investors: Undisclosed
MyLight Systems, created in 2014, aims to help consumers manage their own solar consumption. The company based in Limousin, France has produced technology meant to lower consumption rates and simplify the process of consumers monitoring their own solar consumption. In residential communities, MyLight Systems has proven to produce a savings of 70%, and in service properties it can be up to 85%. This savings can be essential to consumers and businesses and promotes the affordable aspect of solar power.
Total Funding: $8.5 million
Last Funding Date: April 17, 2020
Last Funding Amount: $6.5 million
Last Funding Investors: Inter Invest Capital
MYSUN installs and manages residential, industrial and commercial solar projects across India. They are the largest online rooftop solar platform in India. Their leadership team focuses on offering affordable and sustainable options to transform the energy industry and lower energy costs for consumers. MYSUN also offers a 25 year solar servicing package to ensure premium quality and lifetime support as a leader in the industry.
Total Funding: $7 million
Last Funding Date: April 29, 2020
Last Funding Amount: $4.5 million
Last Funding Investors: Undisclosed
