Using its innovative solar roof technology, with market-leading energy data logging software, SunRoof is building the largest, smartest network of connected, solar homes in the world
- This is SunRoof’s second successful funding round in under six months, taking total funding to €6.5m
- SunRoof believes that it is currently on-track to reach a €100m valuation by the end of 2021
- SunRoof will hire an additional 100+ people in 2021 alone - fuelled by organic growth across Europe
- With its innovative technology, SunRoof looks to challenge Tesla’s dominance in the solar energy market
Renewable energies are fast becoming a standard on a global scale but the transition isn’t going fast enough for our, or the wider health of the planet's, liking. SunRoof was founded to make the move to renewable energy not only easy, but highly cost-effective without ever having to sacrifice on features or design. We’ve already grown more than 500% year-on-year and will use the latest funding to double down on growth. All while further developing our end-to-end solar energy service that will see SunRoof become Europe’s largest energy marketplace and virtual power plant
- said SunRoof CEO Lech Kaniuk.
SunRoof’s approach to innovation
The Microsoft to Tesla Energy’s Apple
In the VC world, we often say that when a great team and a great market collide - magic happens. I am certain that SunRoof is a perfect example of such a statement. The market of solar energy is booming, estimated to reach $334 billion by 2026. Technology of integrated solar roofs is past the inflection point. It is an economical no-brainer for consumers to build new homes using solar solutions. With a more elegant and efficient substitute to a traditional hybrid of rooftops and solar panels, SunRoof clearly stands out and has a chance to be the brand for solar roofs, making clean-tech more appealing to a wider customer-base. In a market like this one, execution is crucial. Here we have a dream team with great experience in blitzscaling other companies that had similar momentum. The team’s vision of peer-to-peer energy trading via Virtual Power Plants makes it one of the most ambitious projects in the solar energy space, and it was one of the most competitive deals for us to get into
- said Michal Rokosz, Partner at Inovo Venture Partners.
SunRoof builds 2-in-1 solar roofs and innovative façades that generate electricity without having to install traditional photovoltaic modules. This is the best investment replacing the need for installing solar panels on top of a classic roof - the most efficient solution, the lowest carbon footprint, uncompromising elegance. Our mission is to speed up the global transition to renewables by developing beautiful roofs that, by generating electricity, will cover the energy demand of the entire building.
About Inovo Venture Partners
Inovo Venture Partners is a first-choice VC for ambitious founders from Poland and the CEE region. We back early-stage, post-traction startups with an initial investment of €0.5-2M. We're committed to building future unicorns and driving the startup ecosystem through our knowledge platform, international network of VCs and enterprises, as well as a rare combination of investment, operational and technological experience. We take great pride in being close to top founders who think big – we strive to build something amazing together.