Energy unicorn 1Komma5 raises €70m with IPO plans on hold

German climate tech unicorn 1Komma5 has successfully raised €70 million from new and existing investors, placing its long-anticipated plans for a public listing on hold.

The funding round represents a significant addition to the company's capital following its previous €215 million raise last autumn. This latest investment values the company at an estimated $1.35 billion. Founded in 2021 by former German footballer Philipp Schröder, 1Komma5 focuses on solutions designed to accelerate the energy transition within households.

1Komma5 intends to utilize the new capital for substantial investments in its artificial intelligence-driven energy management software. This platform aims to optimize household energy consumption and improve the integration of renewable energy sources.

The company's business model encompasses a comprehensive service offering, including the sale and installation of solar panels, batteries, electric vehicle charging infrastructure, and heat pumps. Their objective is to provide customers with solutions that reduce both carbon emissions and energy costs.

Since its inception, 1Komma5 has experienced rapid growth, now employing over 1,000 individuals across operations in multiple European countries. The new funding will support the company's expansion efforts and reinforce its market position in the European energy technology sector.