Berlin-based clean energy tech startup Sunhero raises $4 million to make it easier for homeowners to go solar
In 2019, the UN Environment Programme (UNEP) came out with alarming statistics which found that over 80% of global energy still comes from fossil fuels despite trillion dollars investments in renewable energy. Today, climate change awareness has led millions of people around the world to transition away from fossil fuel-based energy sources to renewables like winds and solar.
In addition, with energy prices skyrocketing across Europe and consumers growing more conscious of their impact on the future of the planet, solar energy is increasingly gaining momentum as an autonomous, sustainable, and clean alternative to power homes.
However, solar energy is not without its challenges. In fact, most customers struggle to navigate a range of complex questions on their own. That’s why Berlin, Germany-based clean energy tech startup Sunhero is on a mission to remove the hassle of going solar, making it easy for people to power their homes with solar energy and save on their monthly electricity bills.
Today, Sunhero announced it has raised a $4 million seed round led by Speedinvest, with participation from Spain-based All Iron Ventures. Sunhero will use the new capital infusion to accelerate growth in the Spanish market and drive the uptake of solar energy among homeowners in Spain and other target markets.
Founded by CEO Christopher Cederskog and COO Stefan Braun, the Spain-operated startup aims to become the leading international service for renting and buying residential rooftop PV systems. The startup also combines solar market expertise, digital technologies, and an extensive network of technicians to deliver hassle-free PV (photovoltaic) solar systems to customers. The company hosts solar market expertise and leverages digital technologies and service innovation, to make it easy for people to install PV systems on their rooftops.
Sunhero simplifies the process, offering a single destination to plan, design, legalize and install the system. With almost every customer being a first-time solar buyer, the startup is built on the belief that the solar market needs to be far more customer-focused than it has been. Equipped with this unique outlook, Sunhero aims to become the leading international service for renting and buying residential rooftop PV systems.
“We believe that answers to climate change lie in tech and innovation. But to achieve an impact, these solutions must live up to customer demands,” says Christopher Cederskog, Sunhero co-founder and CEO. “The transition to independent, green, and cheap electricity is no exception and largely depends on making such solutions more accessible and affordable.”
Christopher co-founded Sunhero together with Braun after four years of working together helping American companies build out international operations. Christopher was an early employee at Zalando and at Airbnb, where he was tasked with international expansion. Stefan has a wealth of experience in Asia, including founding shop.com.mm, the biggest online shopping platform in Myanmar.
The strong international background of Sunhero’s co-founders is reflected in the company’s growth outlook. Sunhero has launched in Spain, one of the most attractive markets due to extremely high electricity prices and lots of sunshine. But the company plans to swiftly expand into other markets, prioritizing those where electricity consumption is growing fast and residential PV can meet the demand, ensure reliability, and push fossil fuels out.
“The opportunity in Spain is even greater than we thought. But it is also a strategically valuable market for further expansion to other markets.”, said Stefan Braun.
The fund will also be used to boost growth and expand the team, focusing on sales, operations, and leadership roles. The company will also expand its installer network, and develop new digital tools for both internal and external use.
”At Speedinvest we have established a great fascination for renewable energy solutions,” says Julian Blessin, Partner, Marketplaces and Consumer at Speedinvest. “From every point of view – be it cost per kWh, regulation, or feasibility and rollout potential – solar showcases an unprecedented potential for a global energy revolution. With Christopher and Stefan we have now found a ‘champions-league’ team to execute and scale tech-enabled renewable energy solutions in this fast-growing industry.”