The Berlin-based energy-start-up Zolar has completed its Series A financing round led by Sunstone Capital and Statkraft Ventures with participation of Partech Ventures and internet entrepreneur Tim Schumacher. The financing consortium has invested 4 Million € in the rapidly growing company to support an accelerated roll-out and extension of ZOLAR's product portfolio.
"We founded Zolar on the promise to make the purchase of a solar system for any house owner as simple and transparent as possible." says Alex Melzer, co-founder and CEO of Zolar. "With the provided capital, we will pursue our vision to power every house with decentralized renewable energy systems making people's lives energy independent", adds Gregor Loukidis, co-founder and COO of Zolar.
As a matter of fact, the residential solar market is experiencing a significant growth. Due to decreasing component prices of solar modules and battery systems, for homeowners in most countries it is now cheaper to produce their own electricity than buying it from the grid. With solar energy, homes can lower their electricity bill effectively to zero. Zolar serves house owners with a new and convenient way to configure, choose and buy customized solar and battery systems online.
"For the first time ever, solar is at the stage where it has become the consumer's best alternative. Not only is decentralized solar power lower cost than buying electricity from your utility, it will also heat your house and fuel your car. Zolar is the first full-service online provider for residential solar and the team is committed to take solar mainstream," explains Jimmy Fussing Nielsen, Managing Partner at Sunstone Capital.
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Energetica India team catches up with the Sunshot Technologies to learn more about the company