The Upper Austrian scale-up neoom collected 25 million euros in a Series B financing round last March (we reported). Now the company around CEO Walter Kreisel, which offers decentralized energy solutions, is expanding this round by a further 16 million euros. The lead investor is B&C Innovation Investments GmbH (BCII), a company of the Austrian B&C Group.
neoom: ClimateTech scale-up collects fresh 25 million euros
neoom wants to further develop the DACH market
neoom is a manufacturer of products related to solar storage power plants. The company’s core competence lies in complete solutions consisting of hardware, software and digital services. Customers can use it to produce and store electricity generated from solar energy on site at low cost. In addition, there is the possibility of profitably sharing or trading the energy gained.
In order to advance the further development of the products and its own software solutions as well as the development of the market in the DACH region, the scale-up has now set up the new capital increase. In addition to BCII, ING Sustainable Investments is also involved in the expansion of Series B. Through BCII, the B&C Group already has stakes in several well-known tech companies, including TTTech, Frequentis, contextflow and TriLite.
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B&C promotes the use of renewables
“The strengthened capital base now allows us to expand our product offering and software platform more rapidly. Our goal is to give even more people access to cheaper and cleaner energy and thus help to accelerate the energy transition. We are pleased that we now have an important partner for this strategy on board with the B&C Group. We are convinced that we will benefit enormously from the network and the industrial know-how of the B&C Group,” says neoom CEO Walter Kreisel.
Julia Reilinger, Managing Director of B&C Innovation Investments, on the new investment: “Innovative Austrian solutions in the field of energy transition are of great relevance for Austria as a business and industrial location. neoom is an Austrian technology company that can make a significant contribution to security of supply for companies and households and to achieving European climate and sustainability goals with its solutions. With our first investment in the energy sector, we want to promote and advance the use of sustainable energies, especially in the industrial sector.”