Climate tech

Q2 202413.05.2024

Solar Energy

Picture of Shubham Jaipuria

Shubham Jaipuria

at Sifted

In 2023, solar energy startups really hit their stride, raking in $2.3b in funding, a jump from $1.7b the year before. Fast forward to the fourth month of 2024, and these startups have only managed to pull in less than $100mn. Not much action on the funding front this year, but we're expecting some of the big players from last year to make a comeback in the second half of the year.

26 out of 27 EU Member States have submitted their National Energy and Climate Plans. On average, solar energy targets have shot up by 87% compared to previous goals. It's good news, but the investments in grid deployment haven't quite kept up with the enthusiasm. Plus, with 80% of solar panels currently imported from China, the EU has passed a bill to cut down reliance on any single country for critical raw materials to just 65% by 2030.

20 startups to watch

Sifted score
8.07
-
Woltair
Clean energy solutions for all.
Strong investor(s)
Serial founder(s)
- Year founded
  2018
- HQ
  Prague, Czech Republic
- Latest round
  Series A
  €20.5m / Jun 2023
- Total funding
  €37.8m
View company profile
Sifted score
7.98
-
SmartHelio
Strong investor(s)
Serial founder(s)
Hiring
- Year founded
  2019
- HQ
  Lausanne, Switzerland
- Latest round
  Seed
  €3.5m / Dec 2022
- Total funding
  €5.6m
View company profile
Sifted score
7.87
-
Sunsave
Strong investor(s)
Serial founder(s)
- Year founded
  2022
- HQ
  London, United Kingdom
- Latest round
  Seed
  €6.5m / Dec 2023
- Total funding
  €12.1m
View company profile
Sifted score
7.6
-
Beem energy
Strong investor(s)
Serial founder(s)
Hiring
- Year founded
  2018
- HQ
  Nantes, France
- Latest round
  Series A
  €20m / May 2023
- Total funding
  €29m
View company profile
Sifted score
7.22
-
Samara
Hiring
- Year founded
  2022
- HQ
  Madrid, Spain
- Latest round
  Seed
  €4.5m / Dec 2022
- Total funding
  €6.5m
View company profile

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