Amperecloud increases investment capital to over €10 million through Series A+ financing round with Encevo

The Berlin-based company Amperecloud has successfully closed a Series A+ financing round of EUR 3.3 million with Encevo, one of Europe's leading renewable energy companies. Point Nine, Vireo Ventures and many other existing investors also participated in the round. The total investment capital raised now stands at more than 10 million euros.

More than 400 companies already use the Berlin-based company's software and hardware solutions to efficiently manage their renewable energy portfolios. The fresh capital and, in particular, Encevo's expertise will now be used to consistently develop the products further.

Amperecloud is already one of the fastest growing companies in the PV & BESS monitoring sector. In the future, the Berlin-based company will become a complete operating system for renewable energies. Not only the freshly raised capital, but also the experience of the new investor Encevo will help on the way there.

Frederik Merz, CEO of Amperecloud, on the investment: "We see a highly fragmented IT landscape in the market at many EE companies, which leads to enormous manual effort in the teams, but also to poor data quality. Amperecloud already serves as a central operating system and solves these problems. Our Amperecloud Platform software solution can receive and process data from all assets and can also be seamlessly connected to other tools such as ERP or BI systems. At the same time, Amperecloud Platform can be used to automate a variety of workflows such as monitoring, reporting or maintenance management. We are very pleased to be able to pursue this path in the future with one of the largest investors in renewable energies in Europe."

Encevo operates a PV portfolio with a capacity of more than one gigawatt peak via subsidiaries alone. In addition, the Luxembourg-based investment company is involved in over 4,000 other assets in the areas of wind power and storage.

“Amperecloud has achieved great success over the past five years and we see great potential for them to build an operating system for all renewable energies enabling their smooth integration for our customers and increasing output as well as marketing capabilities, including through complementary power storage. We see this pivotal block to embrace the energy transition with and for our customers,” comments Nicolas Milerioux, Head of Venture Capital at Encevo, on the investment. ‘To date, we have not seen a comparable software and hardware solution on the European market that offers an enormous range of functionalities with completely open interfaces.’

In addition to the further development of existing products, Amperecloud plans to use the investment round to drive forward its internationalization. The company is already active not only in Germany, but also in Europe and South America. In the near future, the Berlin-based company will be active worldwide.

About Amperecloud

Amperecloud was founded in 2019 and today employs more than 60 people at three locations. Over 400 customers currently operate more than 5 GWp+ of assets, primarily in the solar and PV sectors, in the Amperecloud Platform software solution. The company also offers additional hardware and services such as its own data loggers and an outsourced control centre.

About Encevo

Encevo Group has a very broad geographical footprint and serves clients in Luxembourg, Germany, France, Belgium and the Netherlands. It is present all along the energy value chain, from production, storage, supply, transport to trading, distribution and services.

Encevo actively helps shaping the transition to a sustainable energy sector. It does so by embracing technology, deploying innovative solutions, and partnering up with local communities, including but not limited to taking equity participations into promising startups and scale-ups.