1KOMMA5°, a Hamburg-based home electrification startup, has successfully raised €150 million in a Pre-IPO funding round, bringing its total funding to over €650 million.

The new capital will enable 1KOMMA5° to accelerate growth and expand its Heartbeat AI platform across Europe and Australia.

CEO Philipp Schröder emphasized that this funding will help fulfill the company's mission of assisting millions of homeowners in transitioning from fossil fuels to cleaner energy sources.

CFO Micha Grüber noted that this funding round represents a significant milestone towards entering the capital market, especially in the current market conditions.

This funding round is a crucial step towards an Initial Public Offering (IPO) for 1KOMMA5°, which aims to establish a new energy brand in Europe.

Founded in 2021, 1KOMMA5° aims to be a comprehensive provider of solar energy, storage, and charging services, targeting the conversion of 500,000 buildings annually to climate-neutral energy solutions.

The company operates the virtual power plant named Heartbeat AI, which optimizes electricity buying and selling based on market prices, thereby stabilizing the grid and reducing CO2 emissions.

Heartbeat AI's technology manages batteries, heat pumps, and electric vehicle chargers, connecting households to a virtual power plant that balances the grid and offers financial benefits.

Through intraday optimization, Heartbeat AI aims to enhance customer revenues by up to €1,000 annually.

Currently, 1KOMMA5° operates 75 locations and employs around 2,400 people across Germany, Sweden, Finland, Denmark, Spain, the Netherlands, and Australia.

To expand its operations, the company has made several acquisitions, including Arkana Energy, Solaray Energy, ZEWO Energy, and Zonduurzaam.

Earlier in December 2024, 1KOMMA5° received approval to provide frequency control power (FCR-D) in Sweden, marking a significant milestone in grid stabilization efforts.