SunRoof

SunRoof is a Swedish next-generation solar company offering 2-in-1 smart solar roofs and facades that generate electricity without traditional photovoltaic modules. Instead, the company uses monocrystalline solar cells sandwiched between two large sheets of glass. Because the surface area is large and the connections are fewer the roofs are cheaper and faster to build.

These solar roofs also operate as a sort of virtual power plant that allows homeowners to sell surplus energy back to the grid. In August 2020, SunRoof acquired Redlogger, a Swedish company offering smart metering hardware and software solutions for renewable energy producers, to complement its virtual power plant operations.

Key customers and partnerships

As of April 2023, SunRoof had installed over 1000 units across the US, Poland, Sweden, and Germany.

In December 2022, SunRoof partnered with QMODULAR, a manufacturer of modular buildings, to integrate technologies and build environmentally friendly buildings.

In September 2023, SunRoof reported that BXB studio will be utilizing solar roofs in its Culinary Settlement project in Krynica, Poland.

Funding and Financials

SunRoof’s most recent funding was in January 2023, when the company raised EUR 13.5 million (~USD 14.7 million) in a Series A funding round from leading European climate tech investors World Fund, Nordic Alpha Partners, and Legal & General Capital. The company intended to use the funds for its expansion into Germany, the Nordics, Poland, and the US.

Prior to this in September 2022, SunRoof raised EUR 15 million (~USD 14.9 million) in a funding round led by European growth equity fund Klima Energy Transition. The company intended to use the funds to strengthen its position in the current European markets it operates in by increasing both its sales and production capabilities.