Nextron,, a São Paulo, Brazil-based climate tech company that offers solar energy by subscription, has raised $5.3 million in a Series A funding round.
SaaS Investors
The round was led by Vox Capital and Copel Ventures, with participation from Endeavor Scale-up Ventures, Valor Capital Group, and Barn Investimentos.
Founded in 2009, Vox Capital is an impact investing and venture capital firm based in Sao Paulo, Brazil. The firm invests in innovative businesses delivering positive social impact to the Brazilian low-income population through solutions that help to improve their lives. The firm seeks to invest in the health, education, housing, financial services, and technology sectors.
Copel Ventures operates as the corporate venture capital of Copel. Copel invests in startups that operate in five key areas: renewable and clean energy, innovative internal processes aligned with ESG best practices, energy as a service, smart cities, and energy efficiency.
Nextron Use of Funds
With this fresh injection of capital, the company plans to expand its footprint across Brazil and will support ongoing research and development. The company plans to use the funding to expand operations nationwide and scale its proprietary platform to 50,000 subscribers by the end of 2024.
About Nextron
Founded in 2021, Nextron is a company that offers an energy platform that connects customers with providers of renewable energy via a subscription model, without the need for installing solar panels or incurring unexpected costs. Nextron connects residential electricity consumption to renewable energy plants, facilitating access to clean energy through smart technology. It primarily serves various sectors including residential, business, rural, and condominiums.
Funding Details
Company: Nextron Energia
Raised: $5.3M
Round: Series A
Funding Month: March 2024
Lead Investors: Vox Capital and Copel Ventures
Additional Investors: Endeavor Scale-up Ventures, Valor Capital Group, and Barn Investimentos
Company Website: https://nextronenergia.com.br/
Software Category: Energy
Source: https://infovistar.in/nextron-secures-us-5-3m-in-series-a-funding/