London-based solar start-up Volter has secured $3.2m (£2.5m) in pre-seed funding to expand the business.
The round was led by Transition, with participation from Seedcamp and real estate investor Neptunia.
A number of other angel investors also took part in the funding round, with investment coming from Johannes Schildt, co-founder and chief executive of healthtech scale-up Kry; climate tech founder Eamon Jubbawy and Mark Long, head of strategy at Orchard Street.
The capital injection will be used to build out Volter’s product offerings, expand its customer base and to launch operations in a new European market.
Volter co-founder Luke Buhl-Nielsen said: “Commercial and industrial properties are merging with energy to become revenue-generating power plants – this is the creation of an entirely new asset class. Forward-thinking real estate owners are rapidly recognising the immense potential of integrating renewable energy sources – such as solar – into their buildings.
“However, there is a critical gap in the market: the lack of robust software solutions to help real estate owners effectively manage and monetise their renewable energy output. Volter fills this void and capitalises on the growing trend to incorporate solar production into commercial and industrial real estate by empowering asset owners, managers and solar installers to seamlessly manage, optimise and scale onsite renewables across diverse portfolios.”
Tom Wilson, partner at Seedcamp, added: “As electricity prices rise while solar hardware costs decline, rooftop solar has become an increasingly attractive investment for commercial and industrial property owners. The Volter platform will be pivotal in advancing sustainable energy infrastructure within the sector by enabling real estate owners to efficiently scale their solar investments and optimise financial returns.”
Volter was founded by for McKinsey employees Buhl-Nielsen and Alex Joss.
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