Rockstart's energy fund backs startups to slow down pace of climate change, closes €27 million fund

Amsterdam-based early-stage investor Rockstart has wrapped up its energy fund at €27 million to further invest in early-stage energy startups and co-invest in its energy portfolio companies up to series B. The fund saw the participation of Hubs.com founders, Rockstart 2013 alumni, and several Rockstart mentors.

Working towards the transformation to a regenerative and sustainable future by empowering founders to drive positive change at a global scale, the VC is focusing on three domains – agri food, energy, and emerging technologies.

The Energy fund is the company’s second fund. The fund has already invested in 19 startups from seven countries since its launch in October 2020. These include Klimate, Technology Catalogue, Fibersail, Advanced Infrastructure, Bia, eDRV, Helio, Okto, Soolutions, Starke, Lanterne, Sympheny, IM Efficiency, and Hydrologiq. It plans to fund 50 energy startups within the next three years. Startups accepted to Rockstart receive an initial investment between €100,000- 265,000. It also continues to invest in its portfolio companies, co-investing with a lead investor. The VC can continue to co-invest up to Series B up to a total amount of €2 million.

Since its inception in 2011, Rockstart has invested in over 260 startups and its alumni value to date is $1 billion. Earlier last year in May, the VC had closed its Agri Food at $22 million.

Rune Theill, co-founder and CEO, Rockstart said: “The recent events in Ukraine and the long-standing climate crisis calls for action more than ever. We have been supporting and empowering the next generation of founders driving the energy transition across Europe to develop alternative energy solutions and build a sustainable and resilient energy system.”

Max ter Horst, managing partner for energy, Rockstart added: “By supporting early-stage businesses that are addressing the decarbonisation, decentralisation and digitisation trends in the energy industry, we intend to accelerate the transition to a net-zero energy system, while ensuring affordable and reliable energy power for everyone.”