Sunvigo raises 15 million euros

The solar start-up wants to give its customers easy access to green power. Now Eneco and Sparta Capital are investing.

The Cologne-based start-up Sunvigo has raised €15 million in a recent financing round. In the process, Sparta Capital and Eneco are investing a total of ten million euros together with existing investors Ecosummit, High-Tech Gründerfonds (HTGF) and Übermorgen Ventures. Deutsche Kreditbank AG again increases the financing volume by five million euros in debt capital.

The founders Bastian Bauwens, Michael Peters and Vigen Nikogosian want to use the new capital to optimize internal processes, improve the customer experience through digitalization and expand in terms of personnel. Currently, the startup, founded in 2020, employs 50 people. More employees are needed to handle the increasing demand for the solar systems, the company said. This is increasing even more due to high electricity prices, it said.

Sunvigo offers homeowners an electricity contract including a solar system. The start-up installs and operates the solar panels at the customers' homes, while they only pay for the electricity they use. By eliminating the need for high initial costs, the company aims to make access to solar systems barrier-free. In addition to solar systems, Sunvigo also offers solutions for battery storage and charging devices for electric cars.