Munich, 10 October 2024
Munich-based energy start-up PIONIERKRAFT has achieved a significant milestone in its corporate history by raising a high seven-figure amount through a successful Series A financing round. The investment is led by First Imagine!, a European venture capital firm that focuses on investing in innovative solutions that drive the transition to a sustainable future. With this investment, First Imagine! is supporting the expansion of PIONIERKRAFT’s groundbreaking energy-sharing solution for apartment buildings.
This marks a significant milestone in the young history of PIONIERKRAFT. As part of its Series A financing round, the company has secured a high seven-figure amount investment lead by First Imagine! This European venture capital firm is accelerating transition to sustainable living, supporting innovative technologies within the Cleantech domain. FI! investment portfolio spans various sectors from energy generation and consumption to new sustainable material.
As an established cleantech investor, First Imagine! recognizes strong growth potential and market leadership in the Munich-based company, founded in 2019. The investment is a vote of confidence in PIONIERKRAFT’s innovative energy-sharing solution, which plays a crucial role in advancing the energy transition.
Growth Potential in the Market
“When we founded PIONIERKRAFT in 2019, we saw a tremendous opportunity to build a critical foundation for a multi-billion-dollar energy market, positioning ourselves as a catalyst for the energy transition in small and medium-sized apartment buildings,” says Andreas Eberhardt, CEO of PIONIERKRAFT. “This Series A financing will enable us to scale our network of specialized partners and ramp up mass production of our latest energy-sharing solution, allowing us to take a leading role in transforming the energy sector. I’m incredibly proud of the entire PIONIERKRAFT team, whose hard work and smart decisions have brought us to this pivotal point.”
PIONIERKRAFT plans to use the fresh capital to strengthen its position in the largely untapped market for solar power solutions in smaller apartment buildings with up to 20 units, enhancing its market presence across Germany. The company’s innovative hardware and software solution bridges the gap between single-family homes and large-scale tenant electricity systems by enabling self-generated solar power. This breakthrough allows specialized partners to independently offer solar solutions to nearly 40% of Germany’s housing stock, significantly expanding access to renewable energy.
“Partnering with PIONIERKRAFT is an exciting step forward in our mission to drive sustainable development and facilitate the transition to renewable energy. The company’s innovative energy-sharing solution addresses the large sector of multi-tenant buildings in Germany which has been until now almost excluded from the otherwise boosting rooftop solar installations. We need to close this gap and we believe that PIONIERKRAFT offers exactly the solution the market needs. We are excited to support the company‘s growth and are confident that together, we can accelerate the shift toward a more sustainable energy future for Europe.” says Alexander Starchenko, Managing Partner of First Imagine!
The financing would also allow the company to finalise development and launch the revolutionary PIONIERKRAFTwerk 3.0 product generation, which would allow the company to set new benchmarks in both performance and ease of use. It would make the company proposition even more compelling to the landlords, bringing them on the path to decarbonise Germany’s apartment building stock.
Advisory Board: Additional expert know-how from the energy sector
Hartmut Michels, CEO of standata GmbH, was elected to the Advisory Board by the existing shareholders. He has more than 25 years of specialist and management experience in the mechanical and electrical engineering industry, including more than 20 years with leading German companies for operating and heating cost billing and the manufacture of metering devices for consumption measurement. In particular, his many years of experience in the housing industry service environment will support PIONIERKRAFT in the further roll-out of the PIONIERKRAFTwerk energy-sharing devices plants in apartment buildings. From Hartmut Michels’ point of view, it is obvious: ’The PIONIERKRAFTwerk is a big step towards the Home Energy Management System and is therefore the pacemaker for the energy transition in apartment blocks.’
Successful Deal Closure with M&A Consulting
The Series A financing round is accompanied by Quantum Partners, an independent M&A consultancy based in Munich specialising in corporate finance and growth capital, which is providing PIONIERKRAFT with significant support throughout the deal.
About PIONIERKRAFT
PIONIERKRAFT was founded in Munich in 2019 by Andreas Eberhardt and Nicolas Schwaab. The company has pioneered a unique combination of hardware, software, and services, enabling local and profitable sharing of self-generated energy from the very first participant. Following successful pilot projects in 2020, the PIONIERKRAFTwerk quickly established itself on the market in November 2021 and is now being used in hundreds of projects throughout Germany. Andreas Eberhardt, co-founder of PIONIERKRAFT, was recognized as one of the most successful young entrepreneurs in the 2021 Forbes 30 Under 30 Europe ranking for his vision of “providing everyone with affordable and clean energy”. The company continues to drive this vision forward by collaborating with numerous partners from the solar industry and housing industry.
About First Imagine!
First Imagine! is a European-based venture investor exclusively focused in investments within the Cleantech domain. First Imagine! specifically targets startups at the early commercialization stage, primarily in Europe (EU, UK, Nordics) and Israel. As a member of the British Venture Capital Association and the International Renewable Energy Agency (IRENA) Coalition for Action, First Imagine! is part of the European extensive network in the innovation and startup ecosystems.
First Imagine!’s goal is to help startups in the energy transition space to grow and thrive, while contributing to a more sustainable future.