# Wegatech Greenergy

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/wegatech-greenergy

- Industry: Renewable Energy
- Headquarters: Cologne, Germany
- Website: www.wegatech.de
- Total disclosed funding: $17M
- Latest round: Series C (Dec 5, 2023)
- Investors on record: 7

## About

Wegatech Greenergy GmbH, based in Cologne, Germany, specializes in renewable energy solutions, focusing on photovoltaic systems, energy storage, heat pumps, and energy management technologies.Founded in 2010 in Cologne, Germany, Wegatech Greenergy GmbH develops renewable energy solutions. It has undergone strategic pivots but currently operates independently without subsidiaries. Karl Dienst, a key figure in the company, serves as the CEO. The company has raised a total of EUR 5.00 mn in funding through 5 deals, with the latest being a Series C round completed on December 5, 2023, led by Gothaer Insurance Group, which valued the company at USD 76.50 mn post-money.Wegatech Greenergy GmbH, now a brand of heimWatt GmbH, specializes in innovative renewable energy solutions. They offer custom-designed photovoltaic (PV) systems, energy storage solutions, heat pumps, and energy management technologies tailored for both residential and commercial clients. Key products include PV installations and thermal energy solutions, aimed at enhancing energy independence and promoting sustainability across Germany.In the most recent fiscal year, 2022, Wegatech generated a revenue of EUR 16,748,740.50. The company's business model is based on direct-to-consumer sales of renewable energy systems, with revenue derived from the initial sale and ongoing service agreements. The offering includes PV installations priced per kilowatt-peak and heat pumps with project-based pricing structures.Following the Series C funding round in December 2023, during which Wegatech raised approximately EUR 5.00 mn, the company plans to enhance its Wegahome energy management system and expand its B2B business. The funding will support product development and facilitate entry into new markets, with specific geographic targets yet to be announced.

## Funding rounds

- Series C, Dec 5, 2023, $5.4M — BarmeniaGothaer-Gruppe, Wessel Management, BONVENTURE, Yabeo Capital, P.A.C Pallas-Athene-Consulting GmbH & Co.KG, IVENTURE GmbH, Wiehler Business Funds GmbH & Co. KG
- Series C, Sep 23, 2022, $9.7M — BarmeniaGothaer-Gruppe, BONVENTURE, Yabeo Capital, Wessel Management
- Series B, Feb 12, 2020, $1.6M — BONVENTURE, Yabeo Capital

## Investors

- BONVENTURE (https://capitalatlas.ai/funds/bonventure) — Series B, Series C
- Yabeo Capital (https://capitalatlas.ai/funds/yabeo-capital) — Series B, Series C
- BarmeniaGothaer-Gruppe — Series C
- Wessel Management (https://capitalatlas.ai/funds/wessel-management) — Series C
- P.A.C Pallas-Athene-Consulting GmbH & Co.KG — Series C
- IVENTURE GmbH — Series C
- Wiehler Business Funds GmbH & Co. KG — Series C