1Komma5 Raises €150m with Eye on IPO Amidst Challenging Market
Deal News | Dec 20, 2024 | 2150
German solar startup 1Komma5 has secured €150m in a funding round led by the California State Teachers Retirement System (Calstrs) to bolster its ambitions for a public listing. Among the investors participating are G2 Venture Partners, 2150, Norrsken VC, Hamilton Lane, b2venture, Eurazeo, eCapital, and some existing shareholders. The round signals a slight increase in the valuation of 1Komma5, though exact figures remain undisclosed. Having achieved unicorn status last year, the company has raised €450m in total since its inception in 2021. Initially targeting a Nasdaq listing in 2025, 1Komma5 now aims for 2026 due to the revision post financing. The Hamburg-based company operates a marketplace for carbon-neutral energy systems, including solar panels and heat pumps, supported by software optimizing energy consumption. Despite current challenges faced by European solar companies, including high interest rates and supply chain issues, 1Komma5 reported revenues of approximately €540m this year. The company follows a growth model where it acquires smaller installer firms, contrasting with main competitor Enpal's approach of training new installers. Acquisitions are partly financed by offering acquired companies re-participation rights in future fundraising and potential IPO benefits. CEO Philipp Schröder highlighted that being listed would facilitate asset deals.
Sectors
- Renewable Energy
- Venture Capital & Private Equity
Geography
- Germany – 1Komma5 is based in Hamburg, Germany, with significant operations in the region.
- United States – 1Komma5 is targeting a Nasdaq listing in the US, and the funding round was led by a US-based entity, Calstrs.
Industry
- Renewable Energy – 1Komma5 operates in the renewable energy sector by providing solutions for carbon-neutral systems like solar panels and heat pumps.
- Venture Capital & Private Equity – The article discusses funding activities involving several venture capital and private equity firms supporting 1Komma5's growth.
Financials
- €150 million – The amount raised by 1Komma5 in the latest funding round.
- €450 million – The total amount raised by 1Komma5 since its founding.
- €540 million – 1Komma5's revenue in the reported year, which fell short of the initial €700m goal.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| 1Komma5 | Target company | Company | A German solar startup focused on providing carbon-neutral energy solutions and preparing for a public listing. |
| California State Teachers Retirement System (Calstrs) | Lead investor | Company | A US state pension fund leading the latest funding round for 1Komma5. |
| G2 Venture Partners | Investor | Company | Venture capital firm participating in the 1Komma5 funding round. |
| 2150 | Investor | Company | Private equity firm involved in the 1Komma5 funding round. |
| Norrsken VC | Investor | Company | Venture capital firm participating in the 1Komma5 funding round. |
| Hamilton Lane | Investor | Company | Investment management firm participating in the 1Komma5 funding round. |
| b2venture | Investor | Company | Venture capital firm participating in the 1Komma5 funding round. |
| Eurazeo | Investor | Company | Investment company participating in the 1Komma5 funding round. |
| eCapital | Investor | Company | Venture capital firm participating in the 1Komma5 funding round. |
| Philipp Schröder | CEO and Founder | Person | CEO and founder of 1Komma5, guiding the company's business strategy and public listing preparation. |