Exclusive: Voltfang raises six-figure sum

The home storage start-up from Aachen closes the first part of its pre-seed round. The investment comes from two business angels.

The Aachen-based start-up Voltfang has closed the first part of its pre-seed financing round. In total, the start-up will receive a six-figure investment in the form of a convertible loan. Additional shares will be held for further strategic partners and raised over the course of the next year. "Leading up to our seed round, we have held further shares to take on business angels with particular experience and network in the automotive industry, battery technology and venture capital," said founders Afshin Doostdar, David Oudsandji and Roman Alberti.

Voltfang offers home and industrial storage that they make from retired e-car batteries. This is to store excess solar energy produced during the day and use it at night. Home storage is offered from 10 kilowatt hours (kWh) and industrial storage from 30 kWh. "Now we will develop our second-life storage solution to series maturity, certify it and carry out further pilot projects," say the three founders from Aachen. The money from the final seed round will then be used to produce a first small series.

Keith Sauvant, founder of Aspera, a company for software license management, which he sold in 2016, has invested. The second business angel is Antonio Mesquida Küsters, who was an investment manager for Siemens and is currently employed by the Dutch group ASML. "Storage is the missing piece of the energy transition puzzle. Voltfang has developed a sustainable solution by using 'second life' batteries," says business angel Sauvant.