The Prague-based Woltair, a Czech company accelerating the deployment of heat pumps and renewable energy, has announced the raising of €20.5 million in a Series A round, in addition to €16.3 million raised in September 2022, Silicon Canals informs. The fresh investment was co-led by the Westly Group and Fifth Wall. The startup plans to expand its operation in Germany.
- Woltair specializes in the sale, installation and service of heat and power sources. It also provides assistance with the seamless retrieval of government subsidies and consumer financing for the technology. The startup aims to accelerate the adoption of renewable energy in the residential segment.
- The company claims that since launching, it has served over 3,000 customers and have saved more than 9,000 tons of Co2 emissions from the atmosphere. In September 2022, Woltair raised €16.3 million in a Series A round.
- The fresh investment round was co-led by existing investor, US-based Westly Group, and new investor, Fifth Wall, focused on improving, future-proofing and decarbonizing the built world. ArcTern Ventures, KAYA, and Inven Capital also participated in the round.
“This funding will help us accelerate our international expansion, further develop our unique digital platform, and strengthen our position in the supply chain, which are our decisive competitive advantages. Woltair is helping to accelerate the adoption of heat pumps and renewable energy sources in homes and increase the overall capacity of the technician market, of which there is a shortage everywhere”,
says Jan Hanus, CEO of Woltair.
- Woltair plans to expand its operation in Germany and aims to enter Italy during the second quarter of 2023. The company also wants to sell 500,000 new devices per year by 2024.
