Reonic funding news – Augsburg-based Reonic Secures €13 Million in Series A Round Funding

It enables SME installers to digitize their operations, grow more quickly, and meet the obstacles posed by the renewable energy market's constant complexity.

Reonic was established in Augsburg, Bavaria in 2021 by Tristan Menzinger, Lars-Manuel Schneider, and Udo Sill, who had met while pursuing their studies in Industrial Engineering. The company's goal was to enable renewable installers to become leaders in the energy transition.

The software solution from Reonic is intended especially to streamline the workflows of renewable installers, functioning as an operating system for them from start to finish. Focused mostly on regional installers, Reonic serves more than 200,000 businesses throughout Europe.

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The capital comes after a strong year for Reonic, which saw the business increase its recurring revenue in only the last six months. Reonic opened a second location in Berlin earlier this year.

In addition to committing to its original goals, the company plans to use the additional funding to grow its workforce, which currently numbers 21, and to expand into neighboring European nations, starting with France, where installers encounter comparable difficulties.

Lars-Manuel Schneider, Co-Founder of Reonic said: “Renewable technologies are one of the fastest growing markets in Europe, which is almost exclusively served by independent installers across the continent, which almost always lack digital tooling. Our goal is to enable these installers to compete, grow, and win. First, by creating best-in-class software as the backbone of their workflows. And second, by offering adjacent services in procurement, payment, financing, and beyond.”

Markus Gleim, Principal at Northzone, added: “The energy transition is one of the most significant challenges and opportunities of our time. Reonic is at the forefront of this movement, offering a solution that not only simplifies the adoption of renewable technologies, but one that also drives significant progress towards a more sustainable future. We are proud to back a team that is making such a profound impact on the energy landscape.”

About Reonic

A software as a service (SaaS) company called Reonic is developing the best possible solution for planning, selling, and managing renewable energy technologies (heatpumps, solar, storage, and charging). Making renewable energy simple is their lofty goal.

That's easy: They need comprehensive solutions for the all-electric world. Since mobility, power, and heat must be combined, integrated across all sectors. In the event that not everyone requires photovoltaic power, they will use carbon-based electricity to charge our electric vehicles.