Telecommunications and internet group SoftBank has helped Enpal, the Germany-based operator of an artificial intelligence-equipped solar installation service, close its series C round at €250m ($290m), TechCrunch reported yesterday.
SoftBank’s Vision Fund 2 added €150m to the €100m provided by HV Capital, Heliad Equity, ER Capital, Friba Investment and private investors Peter Rive, Thomas Griesel and Christopher Muhr at an $826m valuation in July this year. The extension valued it at $1.1bn.
Enpal uses artificial intelligence to determine which solar power system would be most suitable for each of its residential customers. It then installs and maintains the system while charging the customers a monthly fee.
Mario Kohle, chief executive of Enpal, told TechCrunch: “Our plan is to go beyond Germany because the climate crisis goes beyond our borders. We also think that this small thing that we invented could also expand into e-mobility and community-based energy distribution.”
The company received an undisclosed amount from private investor Lukasz Gadowski in August 2019 following earlier funding from Picus Capital.
Enpal added a multimillion-euro amount (€1m = $1.18m) from Princeville Capital and private investors Robert Gentz, David Schneider and Rubin Ritter in November 2020, before financial services firm Berenberg and HV Capital – backed by publisher Holtzbrinck – invested an undisclosed sum five months later.
The most recent financing secured by the company was $404m in debt financing supplied last month by institutional investors including funds and accounts managed by BlackRock, Pricoa Private Capital and UniCredit.
