PwC Legal advises ZOLAR on increase of current Series B financing round
Nuremberg, 14th September 2020
PricewaterhouseCoopers Legal AG Rechtsanwaltsgesellschaft (PwC Legal) has provided ZOLAR GmbH, an online distributor of solar systems, with comprehensive legal advice on the increase of the current Series B financing round of approx. EUR 15 Mio. Thus, the total investment of the Series B financing round launched in 2019 has increased to EUR 25 Mio.
This increase of the Series B financing round was once again led by the Czech investor Inven Capital, SICAV, a.s., which specializes in greentech. Previous investors Heartcore Capital Fund III K/S, Statkraft Ventures GmbH, BayWa r.e. Energy Ventures GmbH as well as Partech Entrepreneur II-Europe FPCI and Partech Entrepreneur II FPCI are also reinvesting. Their decision to do so will help strengthen the growing market for photovoltaics as a clean and climate-friendly form of energy.
Inven Capital, SICAV, a.s. is a venture capital fund of the ČEZ Group supported by the European Investment Bank (“EIB”) with a total fund volume of EUR 240 Mio.
The Greentech company Zolar GmbH offers photovoltaic systems, which homeowners are able to custom plan, compare and order online, at a fixed price. The Berlin-based start-up, founded in 2016, employs 100 people in Germany and pursues the vision of installing a solar system on every roof worldwide to enable the independence of private households from the public power grid. ZOLAR GmbH enables its customers to promote the energy revolution in their home, to reduce their CO2 footprint and thus make an effective contribution to climate protection.
Advisors to ZOLAR GmbH:
PwC Legal (Nuremberg):
Gerhard Wacker, Klara Körber (Lead), Christian Heigl (all Corporate / M&A)
Advisors to BayWa r.e. Energy Ventures GmbH:
Norton Rose Fulbright LLP (Munich):
Sebastian Frech (Lead), Tobias Grans LL.B., Sebastian Eisenhut
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