HomeEstonia-StartupsEstonian startup Roofit.Solar scoops up €6.45 million to meet growing demand for...

Estonian startup Roofit.Solar scoops up €6.45 million to meet growing demand for rooftop solar power

Tallinn-based Roofit.Solar has raised €6.45 million to meet Europe’s rising demand for solar power. The GreenTech startup now plans to level up production.

Across Europe, more and more of us are turning to green energy solutions. These solutions help make Europe’s energy outlook greener, fuel the green transition, give homeowners more energy autonomy, and, are more economical in the long run.

Helping homeowners to join the green transition is Roofit.Solar. Since 2016, the Estonian startup has been providing solar roofs as an alternative to traditional roofing, allowing homeowners to simply integrate renewable energy into their everyday lives.

The startup has just secured €6.45 million in a funding round led by BayWa r.e. Energy Ventures and EdgeCap Partners. To date, Roofit.Solar has raised a total of €17 million in the various equity funding rounds and an additional €2 million in grant funding.

Andres Anijalg, CEO and co-founder of Roofit.Solar: “With the backing of our strong investor base, we continue our mission: to offer homeowners elegant metal solar roofs as an alternative to traditional solar panels. Furthermore, we strive to be the go-to choice for the traditional roofing industry looking to transition to solar.”

Based in Tallinn, Roofit.Solar designs and produces solar roofs that aim to blend design with cutting-edge solar tech. The fully building integrated (BIPV) solar roofs can withstand extreme weather conditions, offer a reduced total cost-of-build with 2-in-1 installation, and don’t compromise on style.

The roofs can also be installed on historical buildings, making solar possible for all buildings and removing any barriers to joining the solar movement.

Greg Zavorotniy, Investment Director at  BayWa r.e. Energy Ventures: “Solar energy is one of the main pillars of the worldwide transition to green energy. The dedicated team at Roofit.Solar has proven that the combination of solar roof modules with practical software is not only efficient and profitable but also has the potential for exponential growth. This is why we are confident in extending our long-term partnership with Roofit.Solar.”

The company currently services customers from 17 countries across Europe, including Estonia, Sweden, and Germany as well as Norway, Poland, Austria, Belgium, Switzerland, and the UK.

Raimond Russak, CFO and co-founder of Roofit.Solar: “We have steadily increased our revenue, developed products, and software, and signed agreements with renowned distribution and roofing companies throughout Europe. As a result, we have gained the trust and backing of our stakeholders, and head into 2023 with confidence on the back of an exceptionally strong 2022.”

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.

Raimond Russak: “This additional funding round reflects our entire team’s efforts as we continue to deliver on our mission for a more sustainable planet.”

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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