August 27 (Renewables Now) – German start-up Pionierkraft has raised fresh capital in the single-digit million range in a Late Seed investment round to finance the rollout of its flagship product — a local energy sharing solution.
The Munich-based firm has developed an energy sharing solution that is designed to make affordable green electricity accessible to everyone. Using hardware and intelligent software-based services, Pionierkraft enables the efficient and easy sharing of self-generated electricity from solar power with neighbours. The hardware of the solution is able to transfer energy between households and buildings without using the public grid.
The PIONIERKRAFTwerk solution received CE-marking in May and the company will start series production by the end of August. The product should be launched in Germany by the end of this year.
All existing investors, including Hans Hubschneider, Ralf Hasler, Jan Czichos and climate tech investor EIT InnoEnergy took part in the latest financing round and boosted their investments. New investors include entrepreneurs Eva Brucherseifer, Felix Mielke, Gregor Breidenstein and Mike de Saldanha.
The first financing round was closed in December 2019, a couple of months after the company’s foundation.