Co-Power Revolutionizes with €6.4M Seed Round
Deal News | Jun 10, 2025 | Cherry Ventures GmbH
Co-Power, a Munich-based startup, has secured a €6.4 million seed round led by Cherry Ventures GmbH to enhance its industrial virtual power plant initiative in Europe. Co-Power offers innovative solutions through free solar and battery installations specifically targeting German factories. This approach enables significant cost reductions in energy, approximately by 50%, while capitalizing on renewable energy volatility by trading electricity for profit. The endeavor highlights the potential for increased competitiveness in the renewable energy sector, positioning Co-Power as a transformative leader in industrial energy solutions.
Sectors
- Renewable Energy
- Industrial Energy Solutions
Geography
- Germany – Co-Power operates out of Munich and targets German factories, making Germany a focal geographical area.
- Europe – The investment by Cherry Ventures aims to impact the broader European energy market, thus including Europe in the geographical scope.
Industry
- Renewable Energy – The article centers around Co-Power, a startup providing solar and battery installations, illustrating its crucial role in the renewable energy sector.
- Industrial Energy Solutions – Co-Power's project involves reducing energy costs for industries, linking the article to the industrial energy solutions market.
Financials
- €6.4M – The total seed round funding led by Cherry Ventures for Co-Power.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Co-Power | Target Company | Companies | A Munich-based startup focused on building an industrial virtual power plant in Europe. |
| Cherry Ventures GmbH | Investor | Companies | A venture capital firm leading the seed round funding for Co-Power. |