Urban Volt Valuation, Funding & Investors
Urban Volt is valued at $23M as of October 2020.
Last Urban Volt valuation
$23M
Series A · Oct 2020
Last Urban Volt funding round
$28M
Undisclosed stage · Aug 2023
Cumulative funding Urban Volt raised
$133M
across 4 funding rounds
Key investors in Urban Volt
Verdane
Ireland Strategic Investment Fund
Low Carbon
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Stephen Vernon
About Urban Volt
Urban Volt is a Dublin-headquartered provider of LED lighting retrofits through a light-as-a-service model for commercial properties across Ireland and the UK. The company installs energy-efficient fixtures at no upfront cost, guaranteeing energy savings and maintenance for clients in retail, offices, and warehouses. Urban Volt has retrofitted over 10 million square feet since 2012, focusing on capex-free sustainability for businesses.
Founded
2015
HQ
DublinWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$23M (Oct 2020)
Urban Volt Valuation
Urban Volt is currently valued at $23M, based on its Series A in October 2020.
The $8M round was led by Ireland Strategic Investment Fund, with participation from Stephen Vernon.
Urban Volt valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2020 | Series A | $23M |
Urban Volt Funding History
Urban Volt has raised a total of $133M across 4 funding rounds.
Urban Volt's first fundraising round was a $32M undisclosed-stage round in November 2016. The most recent completed round was a $28M undisclosed-stage round in August 2023.
Urban Volt funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2023 | Undisclosed stage | Verdane (lead) | $28M | - | UrbanVolt is a Dublin-headquartered Solar-as-a-Service company that finances, installs, and maintains solar panels for businesses, enabling customers to purchase solar-generated electricity at approximately 40% lower cost than standard rates, with rates locked for up to 30 years to protect against energy price volatility. The company secured €26 million (~$28.2 million) in growth equity from Verdane's Idun impact fund on August 31, 2023, to fuel expansion in Ireland, the UK, and continental Europe, where it already operates in eight markets alongside the US. This brings UrbanVolt's total debt and equity raised to over €200 million, including €36 million in prior financing in May 2022. UrbanVolt has signed agreements with more than 150 businesses, including major clients like Heineken, Pfizer, Zimmer Biomet, and Syncreon. The investment leverages Verdane's expertise in scaling decarbonisation businesses such as Cleanwatts and EVA Global, supporting product development, sales and marketing, financing optimization, and both organic and inorganic growth to position UrbanVolt as Europe's leading solar provider for enterprises. The timing aligns with strong European solar market growth, with panel capacity projected to double by 2030 and quadruple by 2050, amid challenges like rising energy costs impacting UK manufacturers. |
| Oct 2020 | Series A | Ireland Strategic Investment Fund (lead); Stephen Vernon | $8M | $23M | Urban Volt is a Dublin-headquartered clean energy company that provides Lighting-as-a-Service and energy efficiency solutions for commercial and industrial clients. Founded in 2015 by Kevin Maughan, Graham Deane, and Declan Barrett, the company finances, installs, and maintains energy-efficient LED lighting systems in large commercial facilities such as car parks and warehouses. In 2020, Urban Volt raised €7 million from investors including the Ireland Strategic Investment Fund (ISIF), which committed €5 million as a direct equity Series A investment, and businessman Stephen Vernon, who became chairman. The new shareholders acquired a 35 percent stake in the company as part of this funding round. Following this investment, Urban Volt expanded into solar energy solutions, launching a solar offering to Irish businesses and securing contracts with over 60 companies by mid-2022. In May 2022, the company secured a transformational €36 million debt facility comprising a €30 million asset-backed seven-year loan from Swedish credit fund PCP and €6 million from existing partners BVP and Beach Point Capital, enabling rapid scaling of its installation operations across Ireland and the UK. |
| Jul 2018 | Strategic investment | Low Carbon (lead) | $64M | - | UrbanVolt is an Irish company that established the Light as a Service (LaaS) business model for energy efficiency. The company delivers energy efficiency projects that enable clients to realize significant savings without incurring upfront costs, contributing to carbon emissions reduction. On July 12, 2018, UrbanVolt signed a $65 million funding deal with UK investment firm Low Carbon. The investment was structured with multi-currency dimensions to support UrbanVolt's expansion across the US, UK, and Continental European markets. Low Carbon is a London-based, privately-owned firm specializing in renewable energy investment and asset management. According to UrbanVolt CEO Kevin Maughan, the funding would enable the company to deliver thousands more projects annually while underwriting international expansion. The greenhouse gas emissions saved through this investment were estimated to be equivalent to permanently removing every car commuting into Manhattan during rush hour. |
| Nov 2016 | Undisclosed stage | - | $32M | - | Urban Volt is an Irish company based in Dublin that manufactures and installs low-energy LED lighting. The company offers a unique business model where it installs LED lamps in businesses for no upfront charge and recoups costs by taking half of the energy savings over five years. Founded shortly before the round, Urban Volt began trading in April 2016 and was working with around 100 companies at the time, primarily targeting the Irish market with plans for international expansion into Germany and Austria. In November 2016, Urban Volt raised €30 million from Swiss environmental private equity firm Susi Partners. This funding was structured unusually as a corporate finance deal, grouping clients into €1 million portfolios to provide Urban Volt with cash for business growth. Susi Partners, managing up to €250 million, expressed interest in co-investing on future projects. The round followed earlier funding, including from Ireland rugby star Jamie Heaslip, and aimed to support rollout across Ireland. The company gained international attention, including a feature in The New Yorker. Later developments show Urban Volt's evolution, with subsequent rounds like €7 million in equity from Vernon and ISIF for 35% stake, and expansion into solar-as-a-service, raising additional debt and equity from investors like Verdane. |
Who has invested in Urban Volt?
4 investors have backed Urban Volt across its funding rounds, including Verdane, Ireland Strategic Investment Fund, Low Carbon and Stephen Vernon.
Lead investors include Verdane, Ireland Strategic Investment Fund and Low Carbon.
Urban Volt Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Stephen Vernon | Ireland | 1 | Participant | Oct 2020 |
 Oslo | 1 | Lead | Aug 2023 | |
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Start Free TrialUrban Volt Competitors
Urban Volt competitors include listed companies like Go Green Glb Tech and NextNRG, and private ones like Brineworks, Loop, Polycare and Maginito.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Amsterdam | Private | - | - | $22M | - | |
 Brisbane | Private | - | - | $17M | - | |
 United States | Publicly listed | - | - | $5M | - | |
| United States | Publicly listed | $82M | ($68M) | $20M | 0.4x | |
 Suhl | Private | - | - | $23M | - | |
 Vancouver | Private | - | - | $23M | - |
Urban Volt Public Comps
Urban Volt is still privately-owned, but its public comps include Coal Energy, Mon Courtier Energie, PlasCred Circular, HiPower Energy, Sky Quarry, International Battery, Wolftank Group, Klappir, ML System and NextNRG.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4M | ($1M) | 6.6x | - | (19.9x) | - | |||
| $32M | $3M | 0.4x | 0.4x | 4.1x | 3.8x | |||
| - | ($872K) | - | - | (20.7x) | - | |||
| - | ($76K) | - | - | (333.3x) | - | |||
| $12M | ($8M) | 2.4x | - | (3.9x) | - | |||
| $164K | ($9M) | 99.4x | - | (1.7x) | - | |||
| $141M | $7M | 0.3x | 0.3x | 6.8x | 5.1x | |||
| $3M | $1M | 10.4x | - | 23.9x | - | |||
This data is available for Pro users. Sign up to see all Urban Volt competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Urban Volt
| When was Urban Volt founded? | Urban Volt was founded in 2015. |
| Where is Urban Volt headquartered? | Urban Volt is headquartered in Dublin, Ireland. |
| Is Urban Volt publicly listed? | No, Urban Volt is a private, VC-backed company. |
| What is Urban Volt's valuation? | Urban Volt was last valued at $23M in its Series A in October 2020. |
| How much funding has Urban Volt raised? | Urban Volt has raised $133M across 4 funding rounds. |
| What was Urban Volt's last funding round? | Urban Volt's last funding round was a $28M undisclosed-stage round in August 2023, led by Verdane. |
| Who are Urban Volt's investors? | Urban Volt's investors include Stephen Vernon, Verdane, Low Carbon and Ireland Strategic Investment Fund. |
| Which companies are comparable to Urban Volt? | Companies comparable to Urban Volt include Brineworks, Loop, Go Green Glb Tech, NextNRG, Polycare and Maginito. |
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