- Roofit.Solar has raised 6.45 million euros in funding for rooftop solar in Europe.
- The new funding will allow Roofit.Solar to grow significantly in its home markets.
Estonian-based renewable energy firm, Roofit.Solar has successfully raised 6.45 million euros in a funding round led by existing investors BayWa r.e. Energy Ventures and EdgeCap Partners. It plans to use the funds to increase its production capacity to meet Europe’s growing demand for rooftop solar.
To date, Roofit.Solar has raised a total of 17 million euros in the various equity funding rounds and an additional 2 million euros in grant funding.
The new funding will allow Roofit.Solar to grow significantly in its home markets, Germany, Sweden, and Estonia, while expanding its distribution network Europe-wide. Additional funds will be used to train roofing partners, develop new products, improve the company’s proprietary roof planning software, and prepare for entry into new markets.