SunRoof is a European startup that has come up with a clever idea. It has its own roof-tile technology that generates solar energy. It connects homes that create a type of virtual power plant, allowing homeowners to sell surplus energy back to the grid.
It has now closed a € 4.5 million round (seed extension) led by Innova Venture Partners, with participation from SMOK Ventures (€ 2m of which came as convertible notes). Other investors include LT Capital, EIT InnoEnergy, FD Growth Capital and KnowledgeHub.
Sweden-based SunRoof’s approach is reminiscent of Tesla Energy with its solar roof tiles, but while Tesla runs a closed energy ecosystem, SunRoof plans to work with several energy partners.
In order to acquire this virtual power company, Sunroff’s CEO and serial entrepreneur Lech Kanikuk (formerly Delivery Hero, PizzaPartal and iTexi) acquired the renewable energy system, Redlogger, in 2020.
The SunRoof platform features 2-in-1 solar roof and faked that produces power without conventional photovoltaic modules. Instead, they use monocrystalline solar cells sandwiched between two large sheets of glass that measure 1.7 square meters. Because the surface area is large and the connections are few, roofs are inexpensive and fast to construct.
SunRoof, based on Redlogger’s infrastructure, gives homeowners an energy app to manage solar
Tesla’s Autobider is a trading platform that manages energy from rooftops but has a closed ecosystem. SunRoof, by contrast, works with several affiliates.
Kanyuk said: “SunRoof was founded to not only make the move to renewable energy easier, but also be highly cost effective without sacrificing on features or design. We have already grown more than 500% year-over-year and will use the latest funding to double on growth. ”
Michele Roquez, partner at INLD Venture Partners, commented: “The solar energy market is booming, projected to reach $ 334 billion by 2026. The technology of integrated solar roofs is past from inflection point. It is an affordable no-brainer for consumers to build new homes using solar solutions. With a more elegant and efficient alternative to traditional hybrids of roofs and solar panels, SunRoof clearly stands out and stands a chance to become a brand for solar roofs, making clean-tech more attractive to a wider customer-base. “
The team includes co-founder Marek Zimuslovsky (ex- (Jumia Travel & HotelOnline.)), Former Google executive, Rafal Plutecki, and former Tesla Channel sales manager, Robert Bruchner.
There are rollout plans for Sweden, Germany, Poland, Switzerland, Italy, Spain and the US.