Green Software Startup Secures $1.2 Billion to Expand Solar in EU
The new funding round comes as residential installations are declining across the bloc.
Solar panels on a rooftop in Berlin.
Photographer: Krisztian Bocsi/BloombergBerlin-based climate technology company Cloover has raised more than $1.2 billion to help European households cut emissions.
The company provides software to help installers of rooftop solar, home batteries, heat pumps and other green residential technologies manage their business, while helping homeowners finance their purchases and optimize energy usage. Currently operating in Germany and four other European countries, Cloover says it will use the fresh round of debt and equity funding to expand into new markets such as France and Italy. It will also add new services to its software, such as helping installers with product procurement.