Lumenaza raises EUR 6.5 million to accelerate its European expansion
Lumenaza, the software-as-a-service platform for green utilities, has raised EUR 6.5 million in its Series B funding. The round is led by First Imagine!, a VC focusing on technologies driving the energy transition, and NEW KRAFTWERK Technology AG, funded mainly by the family office of Tom Wolf. The current investors Future Energy Ventures and IBB Ventures also joined the round. Lumenaza will use the additional funding to enhance its energy-as-a-service platform and services to empower new and established green utilities to launch customer-centered energy services across Europe.
With renewables becoming the primary source of electricity production and growth in the electric mobility and smart home sectors being higher than ever, traditional utilities are under pressure and new players enter the market. While established utilities need to innovate to meet the needs of their end-customers at a lower cost, new market entrants have the opportunity to build long-lasting customer relationships, develop new revenue streams and create a strong and trusted green brand.
Lumenaza’s energy-as-a-service software platform empowers innovative green utilities to diversify their offering and deploy customer-centered new energy services fast. The comprehensive platform covers the full end-customer life cycle for electricity products and comes with a suite of powerful software applications, such as advanced billing, a product catalog and a virtual power plant (VPP). While the product catalog enables the simple and fast configuration of green energy offerings and pricing models, the virtual power plant maximizes the value from even the smallest renewable assets.
Lumenaza’s platform is built to scale and to support multi-market operations, allowing the company to expand its offering to geographies outside of Germany. Exploratory projects have already been successfully executed in Sweden, the UK and Spain, with the latter being currently one of Lumenaza’s priority markets for growth.
Christian Chudoba, CEO and Founder at Lumenaza, commented:
„We’re thrilled to welcome First Imagine! and Tom Wolf as investors, strengthening our group of shareholders. We’re also grateful for the continued support from our existing investors Future Energy Ventures and IBB Ventures. This additional funding will enable us to accelerate new green energy solutions across Europe together with our existing customers and innovative utilities.“
Alexander Starchenko, Managing Partner at First Imagine! added:
„We are excited to join Lumenaza on its way to disrupt the retail power market. Our mission is to partner with passionate visionaries who have big ideas and global ambition, helping them to build great companies and make a real difference in people’s lives. Lumenaza can provide everyone with access to green energy, something that is a vital component for a successful energy transition.“
Tom Wolf, family office owner, said:
„Successfully scaling software companies is not only my expertise but my passion. I’m convinced by Lumenaza’s unique value proposition to enable green utilities to start, grow and evolve their business. The company’s scalable, modular and end-to-end platform is exceptional. As the leader in the residential energy-as-a-service market, Lumenaza has a bright future ahead, and I’m proud to support the company during this exciting growth journey.“
Jan Palasinski, Investment Partner at Future Energy Ventures, commented:
„Continuing the trend happening in the banking or insurance industries, where high-tech software companies have been enabling existing and new players to innovate without having to deal with all the technological and regulatory complexities, Lumenaza is a pioneer in bringing the same concept to the energy sector. We are proud to support the company on its mission to accelerate green distributed electricity, which fits perfectly with our vision for a decarbonized, decentralized and digitally-interconnected energy system.“
Stephan Schulze, Investment Director at IBB Ventures, was delighted:
„As one of the early investors in Lumenaza we are glad to welcome First Imagine! and New Kraftwerk to accelerate further growth and make green energy accessible to everyone.“