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Expanding horizons: Prague’s Woltair rolls €20.5M funding to take its heat pumps to Germany

Woltair team
Picture credits: Woltair team

In Germany, the heat pump market grew by over 50% in 2022. Despite the growth in sales, homeowners in the country are behind the target set by the Federal Government. It is expected that 500,000 new devices will be sold each year by 2024. 

Woltair, a Czech startup plays a major role in accelerating the deployment of heat pumps and renewable energy in homes through a digital platform. It specialises in the sale, installation and service of heat and power sources.

Raises €20.5M Series A extension

Now, Woltair has snapped an additional €20.5 million investment round that was co-led by existing investor The Westly Group (Tesla backer that invested in Enpal and WeaveGrid), and new investor Fifth Wall, with strong participation from ArcTern Ventures, KAYA, and Inven Capital, who are enthusiastic about the company’s strong growth. In 2022, the company picked up €16.3 million in the initial part of its Series A funding. 

After witnessing a whopping growth of 300% year-on-year, Woltair is launching officially into Germany. Besides Germany, Woltair also plans to enter Italy during the second quarter of this year. 

“We are thrilled to have received this additional investment from our existing and new investors. It’s confirmation for us that we are moving in the right direction and that our model is truly unique. This funding will help us accelerate our international expansion, further develop our unique digital platform, and strengthen our position in the supply chain, which are our decisive competitive advantages. Woltair is helping to accelerate the adoption of heat pumps and renewable energy sources in homes and increase the overall capacity of the technician market, of which there is a shortage everywhere”, said Jan Hanuš, CEO of Woltair. 

“We’re incredibly proud to be a part of propelling Woltair’s critical mission to meaningfully accelerate the decarbonization of buildings. The combination of their software, their top management team as well as the vast market opportunity is unmatched. We look forward to leveraging our deep-seeded Limited Partner relationships within the region to accelerate their growth and the overall expansion of the Climate Tech sector across Europe”, said Miguel Nigorra, Partner and Head of Europe, Fifth Wall.

Renewable energy adoption made seamless

Founded as Topí in 2018 by Karel Náprstek, Jiří Švéda and Daniel Helcl, Woltair is on a mission to accelerate the adoption of renewable energy in the residential segment. The company digitises the approach to energy solutions and is the first in the country to combine an honest approach to traditional craftsmanship with modern technology.

Woltair partners with small and medium installers to help them be more productive, install faster and accelerate the market. The company provides consumers with a unique online calculator to select the best solution design, including calculating savings, payback, and other details. Woltair also guarantees heat pump installation within 30 days, provides financing, and offers the widest selection of equipment on the market.

Since launch, Woltair has served over 3,000 customers and is estimated to have saved more than 9,000 tons of Co2 emissions from the atmosphere.

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