Berlin-based Amperecloud, a developer of monitoring solutions for companies that operate in solar and PV sectors, has raised €3.3 million in a Series A funding round led by Luxembourg-based Encevo. The total investment capital raised now stands at more than €10 million.
- Amperecloud was founded in 2019 by Erik Nitschke, Florian Strunck, and Frederik Merz. The startup develops the Amperecloud Platform software solution, which offers features including data management, reporting, and portfolio monitoring for businesses with renewable energy portfolios. The company also offers additional hardware and services, such as its own data loggers and an outsourced control center.
- As of today, Amperecloud employs over 60 people and serves 400 customers, primarily in the solar and PV sectors.
"We see a highly fragmented IT landscape in the market at many EE companies, which leads to enormous manual effort in the teams but also to poor data quality. Amperecloud already serves as a central operating system and solves these problems. Our Amperecloud Platform software solution can receive and process data from all assets and can also be seamlessly connected to other tools such as ERP or BI systems,” said Frederik Merz, CEO of Amperecloud.
- Since its inception, Amperecloud has raised over €10 million, including a €5 million Series A round closed in March 2023. That funding was aimed at fueling the startup’s European expansion.
- The leading investor in the current round was Luxembourg-based investment company Encevo, which operates a PV portfolio with a capacity of more than one gigawatt peak through its subsidiaries alone. Additionally, the company is involved in over 4,000 other assets in the areas of wind power and storage.
- Point Nine, Vireo Ventures, and existing investors also participated in the round.
- Aiming to build a complete operating system for renewable energies, Amperecloud will allocate the fresh investment towards further development of existing products. Moreover, the startup plans to use the investment round to drive forward its expansion. As of now, Amperecloud is active in Germany, Europe, and South America.
