Circadian raises 1.25 million euros

Circadian secures €1.25 million to expand its energy management system in emerging markets, starting with telecom towers in Africa.

Amsterdam, Netherlands - Rockstart, a global early-stage VC and accelerator, has announced its investment in Circadian, a company in the Rockstart Energy portfolio. The €1.25 million funding round was led by BayWa r.e. Energy Ventures in collaboration with Rockstart, Persistent Energy Capital, Great Stuff Ventures, Tofino Capital and Ralicap Climate. The startup plans to use the funding to expand its SaaS data platform functionality and grow operations in line with current demand.

We aim to empower renewable energy installers and contribute to the mass adoption of distributed energy in growth markets. Circadian is currently scaling across Africa where we are looking to expand the team, extend the platform's functionality and drive further growth. The support of our investors will be tremendously helpful in this effort.

Mike Rosenberg, CEO, Circadian

The Berlin-based startup has developed an energy management system hardware and software-as-a-service (SaaS) solution targeted at solar developers and asset owners, particularly in grid-challenged emerging markets in Africa. Thanks to this platform, processes can be streamlined throughout the project value chain, from site assessment and design to commissioning and asset management. Circadian is helping C&I companies adopt renewable energy systems in place of diesel generators, starting with telecom tower companies on the continent to drive decarbonization at scale. The company aims to become a leading B2B platform for Distributed Energy Resources (DER) in emerging markets.

Thanks to its innovative technology, Circadian is enabling solar microgrids for businesses in emerging markets, making an important contribution to decarbonization. This is our first investment on the African continent, and we look forward to further opportunities from companies looking to accelerate the region's energy turnaround

Greg Zavorotniy, Managing Director, BayWa r.e. Energy Ventures

Rockstart has been accelerating and investing in energy startups since 2014, making Rockstart a pioneer in the energy sector with 75 early-stage investments. These portfolio companies have raised a total of over €150 million to date. Rockstart Energy invests in pre-seed stage startups and supports them to Series B together with other investors. On average, Rockstart invests in about 12 energy startups per year.

Telecom tower companies and C&I customers in emerging and established markets are looking to reduce their diesel generator consumption by implementing renewable electricity-powered microgrids. Circadian supports them with a hardware and SaaS platform that transforms complex projects into plug-and-play solutions.

Max ter Horst, Managing Partner, Rockstar Energy

Circadian enables solar developers to win more projects, reduce operating costs and increase revenue with its SaaS platform and proprietary IoT hardware. The company was founded by Mike Rosenberg and Max Boit, who have extensive experience in African markets. Circadian aims to decarbonize business growth in Africa by empowering solar energy companies.