Lumenaza receives EUR 6.5 million to accelerate European expansion
BERLIN, 8. June 2021 - Lumenaza, the software-as-a-service platform for green energy providers, has raised €6.5 million in its Series B financing. The round is led by First Imagine! a VC focused on technologies that drive the energy transition, and NEW KRAFTWERK Technology AG, which is primarily funded by Tom Wolf's family office. Previous investors Future Energy Ventures and IBB Ventures also participated in the round. Lumenaza will use the additional funding to expand its Energy-as-a-Service platform and services. As a result, Lumenaza will enable new and established green energy providers to offer customer-focused energy services in Europe.
Renewable energies are now the primary source of electricity generation. In addition, growth in the areas of electromobility and smart homes continues unabated. These trends are putting pressure on traditional utilities and opening up markets for new players. While incumbent utilities must innovate to meet the needs of their end customers at a lower cost, new entrants have the opportunity to build long-term customer relationships, develop new revenue streams, and create a strong and trusted green brand.
Lumenaza's Energy-as-a-Service software platform enables all innovative green utilities to diversify their offerings and rapidly launch new, customer-focused energy services. The platform covers the entire end-user lifecycle for electricity products and includes a number of powerful software applications, such as comprehensive billing functionality, a product catalog and a virtual power plant. While the product catalog enables easy and fast configuration of green power offerings and pricing models, the virtual power plant maximizes the value of even the smallest renewable assets.
Lumenaza's platform is scalable and supports deployment in multiple markets. This allows the company to expand its offering to regions outside of Germany. Exploratory projects have already been successfully carried out in Sweden, the UK and Spain, with Spain currently one of Lumenaza's priority growth markets.
Christian Chudoba, CEO and founder of Lumenaza, comments:
"We are very pleased to welcome First Imagine! and Tom Wolf as investors, strengthening our shareholder base. We are also grateful for the continued support from our existing investors Future Energy Ventures and IBB Ventures. This additional funding will allow us to partner with our existing customers and innovative utilities to implement new green energy solutions across Europe."
Alexander Starchenko, Managing Partner at First Imagine! adds:
"We are excited to join Lumenaza on its journey to transform the electricity market with green energy solutions. Our mission is to work with passionate visionaries who have big ideas and global ambitions, and help them build great companies and make a real difference in people's lives. Lumenaza can make green energy accessible to all, which is an important part of a successful energy transition."
Tom Wolf, owner of the family office, said:
"Successfully scaling software companies is not only my expertise, but also my passion. I believe in Lumenaza's unique value proposition that enables green utilities to launch, grow and evolve their business. The company's scalable platform is exceptional. As the leader in Energy-as-a-Service, Lumenaza has a bright future ahead of it, and I am proud to support the company on this exciting growth journey."
Jan Palasinski, Investment Partner at Future Energy Ventures, comments:
"Following the trend in the banking or insurance industry, where high-tech software companies enable existing and new entrants to innovate without having to deal with all the technological and regulatory complexity, Lumenaza is a pioneer in applying the same concept to the energy sector. We are proud to support the company in its mission to offer green decentralized electricity to all, which fits perfectly with our vision of a decarbonized, decentralized and digitally connected energy system."
Stephan Schulze, Investment Director at IBB Ventures, is enthusiastic:
"As one of the early investors in Lumenaza, we are pleased to welcome First Imagine! and NEW KRAFTWERK to accelerate further growth and make green energy accessible to all."
Lumenaza provides a powerful SaaS platform that enables green utilities to shape, grow and evolve their business by connecting producers and consumers of green distributed energy. The company enables innovative business models based on distributed renewable energy. Its scalable software platform significantly reduces time-to-market and cost-to-serve for new energy services, and enables complex and accurate billing models. By offering energy market roles as a service, Lumenaza ensures that everyone can meet their regulatory obligations. The Berlin-based company works with major customers such as Envision Digital, E.ON and SMA.
More information: https://www.lumenaza.de/
Tel. +49 176 921 84 991
About First Imagine!
First Imagine! is a venture capital firm focused on high-growth technology companies in the European energy transition. Founded in 2016, First Imagine! Its second investment cycle at the end of 2020. Dedicated to the idea of energy transition, the firm seeks investment opportunities in the A-round and beyond to support passionate teams with disruptive technologies.
About the NEW KRAFTWERK Technology AG
NEW KRAFTWERK Technology AG is an investment company financed mainly by Tom Wolf's family office. The company focuses on technologies that accelerate the path to "Net Zero".
About Future Energy Ventures
Future Energy Ventures, E.ON's venture capital and collaboration platform, manages a portfolio worth around €250 million and invests in digital and digitally-enabled technologies and business models that have the potential to fundamentally change the energy landscape of the future. The focus is on digital, scalable and asset-light companies seeking Series A funding and beyond. Future Energy Ventures is leveraging the investment opportunities presented by the shift to a new energy future to maximize scaling opportunities for its portfolio. For more information about Future Energy Ventures, visit www.fev.vc
About IBB Ventures
IBB Ventures (www.ibbventures.de) has been providing venture capital to innovative Berlin-based companies since 1997 and has established itself as the market leader in early stage financing in Berlin. The funds are primarily used for the development and market launch of innovative products or services and for business concepts in the creative industries. Currently, two funds with a total volume of EUR 100 million are in the investment phase. Both VC funds are financed by funds from Investitionsbank Berlin (IBB) and the European Regional Development Fund (ERDF), managed by the State of Berlin. IBB Ventures has already invested in more than 240 Berlin-based creative and technology companies; in consortia with partners, the startups received approximately EUR 1.62 billion, of which IBB Ventures has invested more than EUR 240 million as lead, co-lead or co-investor. IBB Ventures is the umbrella brand for the VC activities of IBB Beteiligungsgesellschaft.
Tel: +49 (0)30 2125 3201