1KOMMA5°, headquartered in Germany and specializing in climate technology, revealed the successful completion of a double-digit million Euro deal with 2150, a venture capital firm dedicated to sustainable transformation in urban environments.
1KOMMA5° intends to allocate the capital toward advancing and expanding its software applications centered around its proprietary “Heartbeat” system.
“Heartbeat” represents a proprietary energy IoT system that provides centralized intelligent energy management, enabling the maximum utilization of generated electricity.
Through this management system, homeowners can optimize their power consumption, thereby increasing their independence from the conventional electricity grid.
Additionally, the German company is set to establish a new research and development center in Berlin, which will employ a workforce of over 100 professionals. This center will be responsible for software and product development, as well as house a dedicated test laboratory.
This development follows the company’s recent Series B funding round, which secured €215 million in equity and included an additional €215 million re-participation option. This funding round propelled the company to achieve a remarkable valuation of €1 billion in just 23 months.
Philipp Schröder, Co-Founder and CEO of 1KOMMA5°, states, “We will utilize this funding to further refine our ‘Heartbeat’ software, bringing us closer to our goal of sustainable energy generation from wind and sunlight at no cost. Presently, we can manage charging stations for electric vehicles, electricity storage, or heat pumps, ensuring an average electricity price of 15 cents per kWh instead of 40 cents. However, our journey does not end here; we aspire to eventually reduce the costs of Heartbeat-connected systems to zero in the medium term. But this ambition necessitates ongoing development efforts.”
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About 1KOMMA5°
Founded in 2021, 1KOMMA5° is dedicated to investing in leading companies within the electrical sector, with a specific focus on photovoltaic systems, charging infrastructure, and heat pumps. In return, the German firm extends access to its software solutions, centralized services, bundled purchasing options, growth capital, and offers entrepreneurs a reverse shareholding in 1KOMMA5° Holding.
1KOMMA5° is actively expanding its presence across Europe, marked by its recent acquisition of Viasol, a Danish market leader, and its entry into the Spanish market. With the ambition to become the foremost provider of clean energy solutions in Europe, the company offers a range of clean-energy infrastructure installation services, including solar panels, energy storage, EV wall boxes, and heat pumps.
Furthermore, they provide their intelligent Heartbeat energy management platform to assist customers in adopting climate technologies and decarbonizing their homes and transportation. With an aggressive growth strategy spanning Europe, 1KOMMA5° aims to achieve €500 million in revenues by 2023 and is targeting a substantial €10 billion by 2030.
The company has set a goal to transition 1.5 million buildings to cleaner energy sources by that time, addressing the pressing need for scalable solutions that enable millions of private customers to embrace climate technologies.
Presently, 1KOMMA5° operates across more than 65 sites and employs approximately 1,500 individuals, with a presence in Germany, Sweden, Finland, Italy, Denmark, Spain, and Australia.
About the Investor
2150 is a venture capital firm dedicated to empowering visionary entrepreneurs at the forefront of the climate transition.
The VC actively nurtures the growth of these companies and technologies, facilitating their long-term, equitable impact on the entire urban landscape. This includes reimagining how cities are conceived, designed, built, powered, and how people live, work, and access essential services.
Jacob Bro, Partner, and Co-founder of 2150, emphasizes, “1KOMMA5° is rapidly emerging as the foremost platform for home electrification and decarbonization throughout Europe. Coupled with the expanding installation of energy assets, their ‘Heartbeat’ solution unlocks optimal energy utilization and cost savings for millions of potential customers. This translates to cleaner and more affordable electricity for households that are swiftly embracing rooftop solar, home batteries, electric vehicles, and heat pumps, all while safeguarding them from the inherent fluctuations in renewable wind and solar energy.
