1KOMMA5° raises pre-IPO round of 150 million euro

1KOMMA5° secures 150 million euro in pre-IPO round. The largest investor and new shareholder is CalSTRS, one of the largest U.S. pension funds, leading the round alongside G2 Venture Partners followed by 2150, Norrsken, Hamilton Lane, b2venture, Eurazeo, eCAPITAL, and additional existing shareholders.

• In a consolidating market, 1KOMMA5° is winning market share while growing strong and overall profitable and setting out to solidify its claim for European market leadership in the mega market of home electrification.

• Less than 4 years after its foundation, the latest round marks an important milestone towards an IPO. 1KOMMA5° continues its efforts to allow customers to become shareholders while setting out to shape a European “New Energy” household brand.

• 1KOMMA5° is uniquely positioned to continue its strong organic growth, coupled with strategic acquisitions within home electrification while delivering on its energy management software and virtual power plant, Heartbeat AI. 

• Heartbeat AI buys electricity when the prices are low and sells electricity when they are high. The system has proven to significantly lower power costs while improving the amortization of connected systems such as batteries, chargers, or heat pumps. At the same time, Heartbeat AI is stabilizing the grid and harmonizing volatile consumption and renewable electricity production.

Hamburg, Germany – Dec 20, 2024 – 1KOMMA5°, the German home electrification start-up and operator of the energy management software Heartbeat AI, has secured €150 million in its pre-IPO financing round. The largest investor and new shareholder in the round is CalSTRS, one of the largest U.S. pension funds from California. The round was co-led by G2 Venture Partners, followed by 2150, Norrsken, Hamilton Lane, b2venture, Eurazeo, and eCAPITAL, which participated alongside additional existing shareholders. With the new funding, 1KOMMA5° plans to accelerate its growth and roll out Heartbeat AI across Europe and Australia.

Philipp Schröder, CEO and co-founder of 1KOMMA5°: ”1KOMMA5° is uniquely positioned on its way to transforming home energy in Europe. The new funding will enable us to execute our mission and serve millions of homeowners across Europe and Australia to switch from fossil fuels towards cheaper and cleaner energy.”

Micha Grüber, CFO and co-founder of 1KOMMA5°: “Less than 4 years after our foundation, this round is the next building block on our way to the capital market and a huge success for the entire team, especially in the current market environment.” 

Barbara Wittenberg, CTO at 1KOMMA5°: “2024 has been a record year for extremely low, even negative, electricity prices. With Heartbeat AI, we provide the software that allows our customers to benefit from volatility while also creating a solution for balancing volatile renewable energy production and consumption.” 

European grids have been increasingly stressed by ever more renewable electricity production, with wind and solar capacities reaching new records. 

Heartbeat AI purchases electricity at the spot market when prices are lowest and sells excess electricity back to the grid when prices are highest. Low prices automatically correlate with lower CO2 emissions. Simultaneously, Heartbeat AI helps stabilize the grid. Instead of charging margins on electricity, 1KOMMA5° charges a flat software fee to its customers and enables real-time individual electricity prices instead of conventional fixed tariffs.

For further images visit 1k5.link/press-kit. 

1KOMMA5° is the CleanTech start-up for CO2-neutral energy, heat and mobility. Founded in Hamburg, Germany, in 2021, the company operates around 80 locations worldwide, serving as the one-stop shop for intelligent, integrated energy solutions such as photovoltaics, electricity storage, heat pumps and charging stations. Its core technology is the artificial intelligence Heartbeat AI; it currently optimizes more than 40,000 systems, creating Europe's largest virtual power plant that connects private customers with the energy market and controls electricity generation and sales in time with the wind and sun. 1KOMMA5° has already installed over 300,000 decentralized, controllable energy systems creating CO2 savings of 14 million tonnes. By 2030, the company aims to convert more than 1.5 million buildings to a climate-friendly energy supply, thus contributing to achieving the Paris climate targets.