PIONIERKRAFT raises seven-figure sum in Series A funding
Munich energy startup, PIONIERKRAFT, has secured a significant investment in its Series A funding round, amounting to a high seven-figure sum. The round was led by First Imagine!, a European venture capital firm committed to sustainable innovation.
This new capital will enable PIONIERKRAFT to further develop and expand its energy-sharing solution tailored for apartment buildings.
"When we founded PIONIERKRAFT in 2019, we saw an opportunity to build a foundation for the energy transition in small and medium-sized apartment buildings," says Andreas Eberhardt, CEO of PIONIERKRAFT. "This funding will help us scale our network of partners and ramp up mass production of our energy-sharing solution."
First Imagine! recognises PIONIERKRAFT's growth potential and aims to accelerate the renewable energy transition. "Partnering with PIONIERKRAFT allows us to address the large sector of multi-tenant buildings in Germany that has been excluded from rooftop solar installations," says Alexander Starchenko, Managing Partner of First Imagine!.
The financing will also support the launch of PIONIERKRAFTwerk 3.0, setting new benchmarks in performance and ease of use, making the solution even more compelling to landlords and encouraging the decarbonization of Germany's apartment buildings.
PIONIERKRAFT has also welcomed Hartmut Michels, CEO of standata, to its advisory board. Michels' experience in the housing and energy sector will support the company’s growth and rollout of PIONIERKRAFTwerk. "The PIONIERKRAFTwerk is a big step towards the Home Energy Management System," Michels notes.
The Series A financing round was supported by Quantum Partners, an M&A consultancy based in Munich specialising in corporate finance and growth capital.
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