Circadian Technologies, a Berlin, Germany-based Energy Management System (EMS) provider, has raised €1.25 million in funding.
The round was led by BayWa r.e. Energy Ventures, with participation from Rockstar, Persistent Energy Capital, Great Stuff Ventures, Tofino Capital, and Ralicap Climate.
BayWa r.e. Energy Ventures is a venture capital firm investing in climate tech across Europe and Israel. The firm offers fundamental early-stage investments from initially € 1m to € 5m into companies that have introduced innovative solutions to the energy sector.
Circadian Technologies Use of Funds
The funding will be used to expand the company's SaaS data platform functionality and scale its operations to meet demand.
About Circadian Technologies
Circadian Technologies is a digital solutions provider that empowers solar developers and Independent Power Producers (IPPs) to excel in the design, sales, financing, operation, and maintenance of solar and storage systems. Circadian offers an Energy Management System (EMS) Hardware- and Software-as-a-Service (SaaS) solution for solar developers and asset owners, particularly in grid-challenged emerging markets like African countries. Circadian has partnered with Nigeria's Royal Power & Energy to provide solar and storage installations to 50 bank branches in the country, enabling businesses in frontier markets to adopt renewable energy solutions.
Circadian's technology aims to accelerate the transition from fossil fuels to renewables for the commercial and industrial sectors in emerging markets.
Company: Circadian Technologies GmbH
Funding Month: October 2023
Lead Investors: BayWa r.e. Energy Ventures
Additional Investors: Rockstart, Persistent Energy Capital, Great Stuff Ventures, Tofino Capital, and Ralicap Climate
Company Website: https://circadian.io/
Software Category: Energy Management System