Enpal Raises €215 Million in Series D Round   

by Kay Aloha Villamor in January 11th, 2023

Enpal, a Berlin, Germany-based solar startup that uses AI for provisioning and installing services, raised €215 million in Series D funding, bringing its total raised to €491 million and valued at €2.2 billion.

The round was led by TPG Rise Climate, with participation from Westly Group (Tesla backer that invested in WeaveGrid) and Activate Capital.

Existing investors such as HV Capital (with support from the European Investment Bank), SoftBank Vision Fund II Capital, and Princeville Climate Technology, also participated.

Enpal plans to deploy the round to expand beyond Germany and enter other European markets this year. It aims to fulfill its vision of creating a global renewable-energy community. It will also be used to add new products to its lineup as it expands into new markets and further develops its overall smart energy platform.

Enpal founder and CEO Mario Kohle said, “We are thrilled to have high-profile global cleantech investors on board to support our mission to make clean energy simple, affordable, and accessible for every household. By joining forces, we can multiply our efforts to reduce carbon emissions, and we will pave the way towards a more sustainable society.”

Company: Enpal GmbH

Raised: €215.0M

Round: Series D

Funding Month: January 2023

Lead Investors: TPG Rise Climate

Additional Investors: Westly Group, Activate Capital, HV Capital, SoftBank Vision Fund II Capital, and Princeville Climate Technology

Company Website: https://www.enpal.de/

Software Category: Solar Services

About the Company: Enpal was founded in 2017 by Mario Kohle and co-founders Jochen Ziervogel and Viktor Wingert. Enpal is a solar startup that leverages AI for provisioning and installing solar services and offers a subscription-style model for homeowners to pay for it. The AI-based algorithm lets users click pictures of their roofs and uses computer vision and other techniques to determine the size and positioning of the installation required. With this process, the provisioning part is done remotely, and technicians only visit the house for installation. Enpal has nearly 30,000 customers in Germany to date.

Source: https://techfundingnews.com/solar-unicorn-enpal-raises-e215m-from-tesla-backer-and-others-to-expand-beyond-germany/


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