German climate tech SaaS startup Reonic has raised €13 million in Series A funding. Led by Northzone, which backed CuspAI and Mimo, the round also saw participation from existing investors Point Nine and Puzzle Ventures. With this, the total funding raised by the company accounts for €16 million.
How will it use the investment?
Reonic will use the capital to help installers tackle the challenges of ever-growing complexity in the renewable energy market, expand into other European countries, and continue growing its headcount.
Jessica Schultz, Partner at Northzone, added: “Reonic’s end-to-end software is precisely what installers have been searching for. It streamlines workflows and provides the digital tools necessary to manage the increasing complexity of renewable energy projects. We believe that the team with their complementary skills is uniquely positioned to build the category-leading software solution in this space. We are excited to support Reonic as they continue to innovate and empower installers across Europe.”
Markus Gleim, Principal at Northzone, said: “The energy transition is one of the most significant challenges and opportunities of our time. Reonic is at the forefront of this movement, offering a solution that not only simplifies the adoption of renewable technologies but also drives significant progress toward a more sustainable future. We are proud to back a team that is making such a profound impact on the energy landscape.”
Deploys sustainable energy solutions
Reonic was founded in Augsburg, Bavaria in 2021 by Tristan Menzinger, Lars-Manuel Schneider, and Udo Sill who met while studying Industrial Engineering at the University of Augsburg. It empowers renewable installers in Europe to establish themselves as a driver behind the energy transition.
The company SME installers tackle the challenges of ever-growing complexity in the renewable energy market, digitise their processes and accelerate their growth. Its software solution works as an operating system supporting renewable installers from end-to-end and is designed specifically to streamline their workflows.
Reonic’s focus is renewable energy, be it photovoltaics, energy storage systems, wall boxes, or heat pumps. With a primary focus on regional installers, Reonic caters to over 200,000 companies in Europe alone. Also, it opened the second office in Berlin earlier this year.
Commenting on the raise, Lars-Manuel Schneider, Co-Founder of Reonic said: “Renewable technologies are one of the fastest growing markets in Europe, which is almost exclusively served by independent installers across the continent, which almost always lack digital tooling. Our goal is to enable these installers to compete, grow, and win. First, by creating best-in-class software as the backbone of their workflows. And second, by offering adjacent services in procurement, payment, financing, and beyond.”
