Global law firm Norton Rose Fulbright has advised Munich-based BayWa r.e. Energy Ventures GmbH on its investment in Berlin-based energy startup Zolar GmbH (Zolar).
The lead investors of the Series B financing round are two leading European capital providers for successful digital energy and mobility solutions: BayWa r.e. Energy Ventures and the Czech venture capital fund Inven Capital. The existing investors, Heartcore Capital, Statkraft Ventures and Partech, also participated in the round.
The VC unit of BayWa r.e. focuses on innovative startups from the entire energy sector in Europe and Israel and is managed by Ulrich Seitz, a VC manager with more than 10 years’ startup experience. BayWa r.e. Energy Ventures thereby invests as lead or co-investor during the crucial stages of early development and, preferably, in scalable business models in the area of digital solutions, storage and e-mobility.
Zolar offers photovoltaic systems through its digital end-to-end configuration platform. The platform was designed to be particularly user-friendly so that individuals with limited expertise could make informed choices. The Zolar online configurator takes over the entire concept of its customers photovoltaic system, from planning to insurance and financing, all the way to the final installation.
Led by partner Sebastian Frech (corporate/M&A), Norton Rose Fulbright’s Munich-based team included counsel Markus Müller (IP/IT/data protection), associate Christina Wiesel and transaction specialist Tobias Grans (both corporate/M&A).
Norton Rose Fulbright previously advised BayWa r.e. Energy Ventures on its investment in Swedish Blixt Tech AB and Israeli Raycatch Limited.