Berlin-based battery storage startup Terra One has secured $7.5 million in a seed round led by PT1 and neosfer. 468 Capital, scout funds of Hedosophia and Andreessen Horowitz, and business angels also joined the funding. The investment will help Terra One further develop its energy storage platform in Europe.
- Terra One was founded in 2022 by Tony Schumacher and Thomas Antonioli. The startup produces large-scale battery storage systems in Germany. TerraOne focuses on innovation and sustainability, using modern energy technologies to support environmental projects aimed at achieving climate neutrality.
- Based in Berlin, Terra One partners with landowners to utilize their land for battery storage projects. The startup also collaborates with municipalities to develop customized solutions that align with community needs and electricity grid requirements.
- Terra One reports having around 300 projects in its pipeline. Additionally, the startup is aiming to start construction on its first projects and launch operations on the European Energy Exchange AG using its proprietary AI-driven energy trading platform.
- The capital was led by PT1, a German venture capital firm that specializes in making pre-seed and seed investments in transformative technologies related to real assets like infrastructure and energy, and neosfer, a Frankfurt-based venture capital firm that invests in fintech startups.
“After extensive screening of the European market, Terra One clearly proved to be the best team and the best technology for us. We believe that what Enpal and 1Komma5° have achieved in scaling the installation of solar systems will now also be achieved with Terra One for the development and operation of large battery storage systems in the grid,” PT1 Managing Partner Nikolas Samios, stated.
- The funding round also saw participation from 468 Capital, Maximilian Tayenthal, Jan Beckers, and the scout funds of Hedosophia, and Andreessen Horowitz.
“We are excited to have reached this milestone and to receive the funding for the next stage of building the biggest energy storage platform in Europe, a critical piece of the energy transition,” TerraOne team, commented on LinkedIn.
