In a significant boost for the European clean technology sector, Reonic, a pioneering climate tech SaaS startup, has successfully raised €13 million in its Series A funding round. The investment, led by Northzone, includes contributions from existing backers Point Nine and Puzzle Ventures.
Founded in Augsburg, Bavaria in 2021 by Tristan Menzinger, Lars-Manuel Schneider, and Udo Sill, Reonic is redefining the landscape for renewable energy installers across Europe. The startup’s software platform is designed to streamline the often complex workflows involved in deploying sustainable energy solutions, catering to over 200,000 companies in the region. This new funding will accelerate Reonic’s expansion into neighboring European markets, starting with France, and support an increase in its team size from the current 21 members.
The recent funding round underscores the rapid growth Reonic has experienced, having tripled its recurring revenue over the past six months. This momentum is set to further propel the company’s mission to enhance digital tooling for independent installers, thus advancing the energy transition across the continent.
Lars-Manuel Schneider, Co-Founder of Reonic, expressed enthusiasm about the new funding, stating, “Renewable technologies represent one of the most dynamic markets in Europe. Our goal is to equip independent installers with superior software and services that facilitate their growth and competitive edge. We are thrilled to have Northzone, Point Nine, and Puzzle Ventures supporting our journey.”
Markus Gleim, Principal at Northzone, emphasized the importance of Reonic’s work in the broader context of the energy transition, noting, “Reonic is at the cutting edge of transforming renewable technology adoption. Their platform simplifies complex processes and propels significant progress towards a sustainable future. We are excited to back a team making a substantial impact on the energy landscape.”
Jessica Schultz, Partner at Northzone, added, “Reonic’s comprehensive software solution is exactly what installers need to navigate the complexities of renewable energy projects. Their innovative approach and skilled team position them as leaders in this space. We look forward to supporting their continued innovation and growth.”
Editorial Opinion
Reonic’s achievement of securing €13 million in Series A funding is not just a testament to the company’s rapid growth but also highlights the increasing recognition of the need for digital solutions in the renewable energy sector. The startup’s ability to triple its recurring revenue in just six months underscores the growing demand for efficient and streamlined processes in the deployment of renewable technologies.
The potential for Reonic’s platform to transform the renewable energy landscape cannot be overstated. By addressing the specific challenges faced by independent installers, Reonic is not only facilitating a smoother integration of renewable solutions but also contributing to the broader goal of a sustainable energy transition. The company’s strategic expansion into neighboring markets like France positions it well to capitalize on similar opportunities across Europe.
Moreover, the support from prominent investors like Northzone and Point Nine further validates Reonic’s vision and market potential. Their endorsement reflects confidence in Reonic’s ability to lead and innovate in a rapidly evolving industry.
As Reonic continues to grow and expand its offerings, it is well-positioned to play a pivotal role in accelerating the adoption of renewable energy technologies, making a substantial impact on both the industry and the global sustainability efforts.
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