Berlin startup Cloover recently secured $114 million in funding. Founded by Peder Broms, Jodok Betschart, Tony Kirmo, and Valentin Gönczy this remarkable company aims to boost household adoption of solar power through advanced software.
This major fundraising achievement will be used for outreach, software advancement, marketing, and to further facilitate the global shift towards renewable energy. The significant investment underscores growing global confidence in the green energy sector’s potential.
Proprietary platform used by Cloover links multiple stakeholders in the renewable energy field, proving beneficial for manufacturers, consumers, and providers alike. It maintains a vendor subscription model, aimed at making renewable energy tech more affordable, bolstered by a strong blockchain system for secure transactions.
Crucially, Cloover’s platform offers access to renewable energy related information, products, and services at the fingertips of its users and promotes efficacious communication between parties. Investors gain exposure to a wide array of renewable energy projects, fostering a more sustainable future through accelerated adoption of green technologies.
The company also utilizes proprietary data on energy conservation, providing financing options for households seeking energy efficiency. Cloover stresses the importance of sustainable living that’s budget-friendly.
Cloover’s innovative software boosts solar power adoption
Through the platform, households can apply for loans, track consumption, and receive personalized energy conservation advice.
Beneficial for both consumers and vendors, Cloover supports vendors in obtaining necessary working capital. It’s proactive in partnering with small and medium-sized installers, constituting over 85% of Europe’s solar installations. The platform assists these businesses to compete with larger entities, thus diversifying the renewable energy sector.
This is achieved through online exposure and digitally-enhanced market reach. Smaller companies are, therefore, enabled to leverage their unique competencies, enhancing competitiveness in an industry that has been monopolistic.
Strategic partnerships across Europe have played a significant role in Cloover’s work, collaborating with Zonduurzaam in the Netherlands and Solarkraft in Sweden. The recently acquired funds will be directed towards software improvements and expanding sales, payment, and financing features. They are also planning to enhance alliances within Europe’s renewable energy landscape.
The fundraising effort was led by Lowercarbon Capital, supplemented by 9900 Capital and QED, demonstrating Cloover’s ability to secure substantial financial backing. This indicates a ken keen on connecting up to 1 billion people with renewable energy resources, amidst growing Europe’s solar market.
