Today Czech renewable energy company Woltair announced a €20.5 million funding. The company previously raised €16.3 million in September 2022.
Woltair is working to accelerate the deployment of heat pumps and renewable energy in the residential sectorhrough a digital platform.
Woltair is one of the largest companies in the Czech Republic, specialising in the sale, installation and service of heat and power sources such as heat pumps and photovoltaics across Europe.
It has also developed an untethered SaaS platform called Superfix to increase technician productivity.
Founded in 2018 by Karel Náprstek, Jiří Švéda and Daniel Helcl, the company was formerly known as Topíte.cz.
Woltair is officially launching in Germany, where the heat pump market grew by over 50% in 2022. Despite the growing sales, German homeowners are still behind the target set by the Federal Government. By 2024, it expects 500,000 new devices to be sold each year. 2022 heat pump sales were only halfway, with 236,000 new installations.
In addition to Germany, Woltair plans to enter Italy during the second quarter of this year.
Since launch, Woltair has served over 3,000 customers and is estimated to have saved more than 9,000 tons of Co2 emissions from the atmosphere.
Woltair will partner with small and medium installers to help them be more productive, install faster and accelerate the market.
It will also provide consumers with an online calculator to select the best solution design, including calculating savings and payback, guaranteeing heat pump installation within 30 days, and providing financing.
Jan Hanuš, CEO of Woltair, shared:
"We are thrilled to have received this additional investment from our existing and new investors. It's confirmation for us that we are moving in the right direction and that our model is truly unique.
"Such rapid growth in the Czech market and dynamic development abroad is made possible not only by our unique platform, which can be applied relatively easily virtually anywhere in the world, but also by the strong background of experienced investors from the Czech Republic, Europe, the USA, and Canada, who are, among other things, a guarantee of stability,"
He shared that the funding will help the company accelerate international expansion, further develop its digital platform, and strengthen its position in the supply chain.
The extension of the investment round was co-led by Woltair's existing investor, The Westly Group, and new investor, Fifth Wall, with strong participation from ArcTern Ventures, KAYA, and Inven Capital.
Miguel Nigorra, Partner and Head of Europe, Fifth Wall shared:
"We're incredibly proud to be a part of propelling Woltair's critical mission to meaningfully accelerate the decarbonisation of buildings. The combination of their software, their top management team, and the vast market opportunity is unmatched.
We look forward to leveraging our deep-seeded Limited Partner relationships within the region to accelerate their growth and the overall expansion of the Climate Tech sector across Europe",