zolar Funding, Investors & Competitors

zolar has raised $153M across 5 funding rounds, most recently a $107M Series C in May 2022.

See full zolar profile

Last zolar funding round

$107M

Series C · May 2022

Cumulative funding zolar raised

$153M

across 5 funding rounds

Key investors in zolar

  • Heartcore Capital
  • Statkraft Ventures
  • Partech
  • Inven Capital
  • Energy Impact Partners
  • AENU
  • BayWa r.e. Energy Ventures
  • GIC

zolar Overview

About zolar

zolar is a Berlin-headquartered solar energy company that provides an online configurator for customizing photovoltaic systems, batteries, and electric vehicle chargers. Partner experts assist homeowners during configuration, while a network of local installers handles on-site deployment across Germany. Employing around 200 staff, zolar focuses on integrating energy generation, storage, and mobility to create self-sufficient households. The firm has installed systems on thousands of rooftops since its founding in 2017, contributing to Germany's renewable energy transition through end-to-end solar solutions.


Founded

2016

HQ

GermanyBerlin

Website

zolar.de

Status

Privately held

Customer focus

B2C

Revenue model

Services

zolar Funding History

zolar has raised a total of $153M across 5 funding rounds.

zolar's first fundraising round was a $5M Series A in November 2017. The most recent completed round was a $107M Series C in May 2022.

zolar funding rounds

zolar funding rounds
DateStageInvestorsRaisedDeal Summary
May 2022Series CEnergy Impact Partners (lead); GIC (lead); Heartcore Capital; AENU; Pirate Impact; Statkraft Ventures; Inven Capital$107MZolar is a Berlin-based climate-tech startup founded in 2016 by Alex Melzer and Gregor Loukidis, operating as a digital platform that democratizes access to solar energy for homeowners and businesses in Germany. It provides a fully digital shopping experience for customizable photovoltaic systems at fixed prices, with options to lease solar on a monthly basis, reducing complexity and enabling contributions to climate protection through renewable energy adoption. On May 19-20, 2022, Zolar raised €100 million (~$105M) in a Series C equity financing round led by U.S. investor Energy Impact Partners (EIP) and Singapore’s sovereign wealth fund GIC, with participation from existing investors Inven Capital, Heartcore Capital, Statkraft Ventures, and Pirate Impact Capital. The investors highlighted Zolar's role in accelerating the clean energy transition, supporting net-zero goals, and helping homeowners reduce carbon emissions amid rising energy prices and geopolitical pressures to shift from Russian energy sources. Zolar plans to use the proceeds to expand its Craftship Partner Network of local installers from 500 to 3,000 by 2025, launch a training center to address skills gaps in renewables, and develop new digital energy products including an energy management system, dynamic electricity tariffs, and smart features like automated EV charging optimization via its app. The company reported enquiries for solar installations quadrupling in 2022 due to surging demand.
Mar 2021Series BEnergy Impact Partners (lead); AENU$12MZolar is a Berlin-based greentech startup that supplies photovoltaic systems managing renewable energy for homeowners. In March 2021, it added €10 million led by Energy Impact Partners (EIP) to its ongoing Series B funding round, increasing the total to €35 million. Existing investors including AENU continued to support the round. The funds aimed to triple solar capacity in Germany, accelerate growth, establish Zolar as a consumer brand, and focus on sustainable energy production for private households. Zolar reported significant revenue growth in the past year despite COVID-19 restrictions and targeted tripling installations across Germany in 2021. EIP described Zolar as one of Germany's fastest-growing energy startups. Previously, Zolar raised €4 million in Series A in 2016 and €15 million in another round last September from investors like Inven Capital, TS Ventures, Heartcore Capital, Statkraft Ventures, BayWa r.e., and Partech Partners to expand overseas.
Sep 2020Series BInven Capital (lead); TS Ventures; Heartcore Capital; Partech; BayWa r.e. Energy Ventures; Statkraft Ventures$18M-
Aug 2019Series BBayWa r.e. Energy Ventures (lead); Inven Capital (lead); Heartcore Capital; Partech; Statkraft Ventures$11MZolar is a Berlin-based greentech startup founded in 2016 that offers photovoltaic systems to homeowners through a digital end-to-end configuration platform. The platform simplifies solar system planning with user-friendly design, cost and performance transparency, fixed price guarantees, and integrated leasing and financing services. It aims to enable private solar energy generation for greater independence from traditional suppliers and supports the renewable energy transition. On August 27, 2019, Zolar raised a €10 million Series B funding round. BayWa r.e. Energy Ventures and Inven Capital led the round, with participation from existing investors Heartcore Capital, Statkraft Ventures, and Partech. The funds support expansion of Zolar's digital platform and network of installation partners. Zolar's CEO Alex Melzer, with over 10 years in the solar sector, emphasizes that expanded private solar generation could technically supply Germany, Europe, and the world with 100% renewable energy. The investment aligns with movements like Fridays for Future, highlighting viable greentech solutions.
Nov 2017Series AHeartcore Capital (lead); Statkraft Ventures (lead); Partech; Tim Schumacher$5MZolar is a Germany-based solar power installation service founded in 2016 that allows customers to configure precise solar energy systems based on their home and energy needs, then installs the systems itself. In late 2017, Statkraft Ventures and Heartcore Capital (then Sunstone Capital) co-led a $4.7 million Series A round that also included Partech Ventures and Tim Schumacher. The company has since raised additional funding, including a €10 million Series B in 2019 co-led by BayWa RE Energy Ventures and Inven Capital, with participation from Statkraft Ventures, Heartcore Capital, and Partech. This Series B was later expanded to €25 million with a €15 million extension led by Inven Capital in 2020. Zolar continued fundraising with a Series C in 2022 led by Energy Impact Partners, GIC, Heartcore Capital, Inven Capital, and Statkraft Ventures.

Who has invested in zolar?

11 investors have backed zolar across its funding rounds, including Heartcore Capital, Statkraft Ventures, Partech, Inven Capital, Energy Impact Partners and AENU.

Lead investors include Energy Impact Partners, GIC, Inven Capital, BayWa r.e. Energy Ventures, Heartcore Capital and 1 other investor.


zolar Investors

Investors in zolar by funding rounds participated
InvestorHQRoundsRoleFirst check
Heartcore CapitalDenmarkCopenhagen4LeadNov 2017
Statkraft VenturesGermanyDüsseldorf4LeadNov 2017
PartechFranceParis3ParticipantNov 2017
Inven CapitalCzech RepublicPrague3LeadAug 2019
BayWa r.e. Energy VenturesGermanyMunich2LeadAug 2019
AENUGermanyBerlin2ParticipantMar 2021
Energy Impact PartnersUnited StatesNew York City, NY2LeadMar 2021
TS VenturesGermanyCologne1ParticipantSep 2020
GICSingaporeSingapore1LeadMay 2022

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zolar Competitors

zolar competitors include listed companies like Brookfield Renewable Partners and REC, and private ones like Lancium Technologies, 50Hertz, The Faraday Grid and Ample.

Public and private companies comparable to zolar
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Lancium TechnologiesUnited StatesHouston, TXPrivate--$10B-
Brookfield Renewable PartnersCanadaCanadaPublicly listed$6.4B$4.8B$8.9B11.7x
RECIndiaIndiaPublicly listed$2.3B$2.2B$8.6B25.9x
50HertzGermanyGermanyPrivate--$6B-
The Faraday GridUnited KingdomEdinburghPrivate--$3.7B-
AmpleUnited StatesSan Francisco, CAPrivate--$1B-

zolar Public Comps

zolar is still privately-owned, but its public comps include GE Vernova, Iberdrola, Enbridge, China Yangtze Power, Constellation Energy, Williams Companies, Enterprise Products, Energy Transfer, Kinder Morgan and TC Energy.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GE Vernova$38B$3.2B6.2x5.4x73.5x43.5x
Iberdrola$51B$17B4.4x4.3x13.2x11.8x
Enbridge$47B$15B4.2x3.6x13.3x13.3x
China Yangtze Power$13B$11B11.4x11.3x13.9x14.4x
Constellation Energy$26B$5B4.6x3.8x23.5x15.3x
Williams Companies$12B$7.4B10.1x9.8x16.4x14.6x
Enterprise Products$53B$9.6B2.2x1.9x12.3x11.0x
Energy Transfer$86B$15B1.9x1.5x10.5x8.8x

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Common questions about zolar

When was zolar founded?zolar was founded in 2016.
Where is zolar headquartered?zolar is headquartered in Berlin, Germany.
Is zolar publicly listed?No, zolar is a private, VC-backed company.
How much funding has zolar raised?zolar has raised $153M across 5 funding rounds.
What was zolar's last funding round?zolar's last funding round was a $107M Series C in May 2022, led by Energy Impact Partners and GIC.
Who are zolar's investors?zolar's investors include Heartcore Capital, Statkraft Ventures, Partech, Inven Capital, BayWa r.e. Energy Ventures, AENU, Energy Impact Partners, TS Ventures, GIC, Tim Schumacher and 1 other.
Which companies are comparable to zolar?Companies comparable to zolar include Lancium Technologies, Brookfield Renewable Partners, REC, 50Hertz, The Faraday Grid and Ample.

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