HomeFundingMadrid-based Samara scores €4.5 million to help households transition to solar energy

Madrid-based Samara scores €4.5 million to help households transition to solar energy

Energy tech startup Samara has raised €4.5 million just 6 months after launch. The Madrid-based company is helping households transition to more sustainable sources of energy, leveraging the power of solar energy to reduce carbon emissions and cut costs. 

Transitioning to more sustainable and cleaner energy sources is a key priority across Europe. For businesses, governments and households alike, using more sustainable energy sources is now a key concern to tackle the escalating climate crisis. Its benefits have become all the more clear with the unfolding energy crisis, rising prices and geopolitical turbulence. 

As a result, renewable sources of energy are becoming more popular across the continent, and the adoption of clean energy is encouraging to see. For example, it’s expected that 650 million homes will adopt clean technologies by 2030. Not only is clean energy healthier for the planet, but it’s also helping households deal with stressful price fluctuations. Energy levels in Europe reached record levels and many customers are now seeing that using renewable sources of energy could save considerable amounts of money.

Madrid-based Samara is a solar energy startup that is on a mission to help households make this transition, claiming to be able to save households up to 70% on their electricity bills. Launched just 6 months ago, the startup has now raised fresh funds to scale. 

The details

  • €4.5 million raised in Seed funding
  • The round was led by Seaya and included participation from Pelion Green Future
  • Brings the company’s total funding raised to €6.5 million

Benedikt von Bary, Vice President of the Pelion Green Future: “We are very excited to increase our investment in Samara and to continue helping homeowners to shift towards green energy and to become energy independent. Over the last months, the team around Iván and Manel has demonstrated their ability to quickly build a striving business, and we are convinced that now is the right time to invest in growth across Spain to address the underserved market of residential solar energy.”

A sustainable energy future powered by solar

Founded in the summer of 2022, Samara is led by Iván Cabezuela and Manuel Pujol. The startup was launched with the aim of accompanying households in their energy transition towards a more efficient and sustainable model. 

Iván Cabezuela, co-founder of Samara: “We want to help more and more people adopt clean energy in their homes through solar panels, batteries and electric vehicle chargers, as well as become more energy independent and reduce their carbon footprint.”

Samara uses software to create a holistic, customer-centric solution, ranging from the installation of solar panels to batteries and electric vehicle chargers, among others. The solution allows users to preview the installation of solar panels through a 3D design, calculate energy savings and understand their positive environmental impact through the reduction of CO2 emissions. 

The adoption of greener energy sources is growing, and it’s benefiting consumers’ bank accounts as well as helping push forward the green agenda. In Spain alone, solar energy installations are expected to reach one million by 2025 – a massive increase from 70k installations at the beginning of 2022. 

According to Samara, switching to solar energy can give consumers savings of up to 70% of their energy bill and help them achieve energy independence – which surely provides peace of mind as the energy crisis unfolds and we see just how turbulent the energy supply can be. This factor, together with increasing sustainability concerns as well as newly approved subsidies and tax incentives, has turned self-consumption into an attractive solution for consumers.

With this new funding, the Spanish startup plans to grow the team and expand. It’ll open multiple logistic centres, using them as hubs to provide even more technical visits and installations.

Iván: “The goal is to continue the exponential growth we are experiencing in these first six months, to expand our geographic scope and to continue developing digital solutions to help our customers optimize their consumption. For us, it is important to establish long-term relationships with users and to be their partner in the energy transition.”

Carlos Fisch, director at Seaya: “We have witnessed Manel and Ivan’s excellent execution and their ability to lead a company with an attractive value proposition, healthy unit economics, an outstanding team and measurable impact. We are very pleased to continue to support Samara in its mission to accelerate the adoption of solar energy in homes. The sustainable growth that Samara represents fits perfectly with Seaya’s values, we share a common goal.” 

Patricia Allen
Patricia Allen
is the Head of Content at EU-Startups. With a background in politics, Patricia has a real passion for how shared ideas across communities and cultures can bring new initiatives and innovations for the future. She spends her time bringing you the latest news and updates of startups across Europe, and curating our social media.

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