Installion raises 3.2 million euros

In its current financing round, Installion has gained the venture capital arm of the energy group Eneco as an investor. Together with existing investors, the Cologne-based company was thus able to raise 3.2 million euros.

The Cologne-based start-up Installion has secured €3.2 million in its Series A financing round. The existing investors Christoph Ostermann, Kai Howaldt and Bernhard Beck are involved in the round, with the venture capital arm of Dutch energy supplier Eneco being a new addition. Installion intends to use the money to drive its Germany-wide expansion and accelerate the establishment of 20 assembly branches by 2022. It also plans to expand the number of craftsmen it hires.

"We believe that Installion has managed to solve one of the biggest challenges on the road to self-sufficient electricity in Germany, namely the lack of capacity of suitable installers," comments Karel Nanninga of Eneco on the investment. Founded in 2019, the start-up has developed a tradesman platform that brokers assembly and installation services. In total, Installion has raised five million euros so far.

"With Eneco Ventures, we have gained a renowned investor who supports our ambitious growth with capital and network," says Florian Meyer-Delpho, one of the three Installion founders alongside Till Pirnay and Claus Wohlgemuth. The Cologne-based company's goal is to attract B2B customers who use the platform to find installers in the solar, storage and e-mobility sectors. According to its own information, 350 customers have realized almost 4,500 projects via Installion to date.