Freistadt January 24th, 2023, neoom ag (“neoom”), a leading provider of independent, decentralised energy systems for both residential and SME customers, raised c. €25 million in a Series B funding round to scale its business thereby supporting the energy transition on a European scale. The round was led by Summiteer, an investment company founded by serial entrepreneur and former Akasol CEO Sven Schulz together with ING Sustainable Investments and highly reputable local Austrian investors.
neoom’s capital base will be also strengthened by:
- Juergen Hoeller, co-founder and inventor of spring.io, the leading Java frameworks sold by VMware;
- Alexander Kirchgasser, co-founder and Ex-COO of has.to.be, European´s leading charge point operating software platform which was acquired by Chargepoint in 2021;
- Founder of neoom Walter Kreisel himself and the neoom Management as well other existing investors
- and a credit line from neoom’s principal bank Sparkasse
Both Summiteer and ING bring considerable value-add to neoom through their in-depth industry and financing expertise. Sven Schulz, founder of Summiteer commented: “A substantial growth acceleration in solar power capacity over the next decades is an essential pillar towards a pathway to net zero by mid-century. With our investment in neoom, we partner up with a team of leading climate and deep tech experts, a truly software centric organisation and a company with the potential to become a leader in democratizing the energy market. neoom’s AI based and hardware independent IoE – Internet of Energy management platform, with an API and mobile first approach, offers digital services and many valuable features for customers. Among others the ability for solar plant owners to trade renewable energy directly within local energy communities inside their APP, a neoom own developed skill called „KLUUB“, which is already up and running in Austria.
The diverse background of investors with the bundled expertise around energy, batteries, software, AI and the design of the electricity market demonstrates the potential of the company and shows the readiness of the neoom team to disrupt the energy market.
Since its foundation in 2018 and the first product sale in March 2019, the company provides holistic decentralized energy solutions comprising solar with battery storage, EV charging systems, combined with a proprietary, self-developed and open IoE – Internet of Energy management platform for both residential customers and SMEs across the DACH region. Since its inception, neoom has successfully developed a hardware framework, alongside a full suite of digital services that has driven material growth in the business from c. EUR 15m of revenues in 2021 to > EUR 50m in 2022. neoom’s reputable Enterprise clients include IKEA, Post AG, Zinkpower and ASFINAG. Today neoom is proud of a talented, trained and specialized network of 300+ installation partners in the DACH region (Germany, Austria and Switzerland) and manages 25,000+ IoE connected devices on their software platform with over 200 employees.
neoom has been advised by PJT Partners as its financial adviser as well as Freshfields and Waitz as legal adviser on this transaction.
Summiteer is an investment company founded by serial entrepreneur and former Akasol CEO Sven Schulz, which invests in start-ups and growth companies with scalable, sustainable and innovative business models. Summiteer sets its sights on creating sustainable value with the companies in their portfolio, thereby supporting the prosperity of our company while also playing an active role in creating an environmentally friendly future.
About ING Sustainable Investments
ING Sustainable Investments, part of ING Wholesale Banking, offers a wide range of tailor-made financial solutions, including equity investments and subordinated debt instruments, to support companies in achieving their sustainable ambitions.