German energy startup Zolar has raised €4 million in a Series A round led by Sunstone Capital and Statkraft Ventures with participation from Partech Ventures and startup investor and Sedo.com cofounder Tim Schumacher.
Zolar is a service that makes buying solar power systems for homes easier and more transparent, said Alex Melzer, CEO, with a network of installers around Germany. According to the company, the residential solar market is undergoing significant growth.
“With the provided capital, we will pursue our vision to power every house with decentralised renewable energy systems making people’s lives energy independent,” said Gregor Loukidis, COO.
Sunstone Capital managing partner Jimmy Fussing Nielsen added that solar is becoming the consumer’s best energy alternative.
“Not only is decentralised solar power lower cost than buying electricity from your utility, it will also heat your house and fuel your car,” he said on Sunstone’s investment in the startup. “Zolar is the first full-service online provider for residential solar and the team is committed to take solar mainstream.”