This Startup Is Taking On Tesla With Its Integrated Solar Roof Tiles. SunRoof Used This 9slide Pitch Deck To Raise $14.6 Million From Investors.

• Solar panel startup SunRoof has raised 13.5 million euros (about $14.6 million) in new funding.
• The Swedish company, founded in 2013, uses Tesla's solar power plant on its roof.
• We've got an exclusive look at the 9-slide SunRoof floor, which is used to enhance the expansion circle.

The startup behind Tesla's solar roof has raised 14.5 million euros (about $14.6 million) to fund its growth.

Swedish company Sunroof offers homeowners a smart option with solar panels integrated with installed solar panels.

The cash injection brought the increase to 28.5 million euros (about $30.9 million) and the company's total investment to 35 million euros (about $37.9 million), raised by Clima Energy Transition and the Nordic world. Alpha Foundation. Partners. and legal and general capital.

In the year The US Inflation Act added incentives for rooftop solar systems. Solar VCs raised $8.35 billion last year, up from $8.48 billion in 2021, according to Pitchbook.

SunRoof uses traditional photovoltaic (PV) materials instead of the thin sheets that solar roof companies typically use, CEO Lake Canuck told Isair. Photovoltaics are more efficient in capturing solar energy, he said. Individual tiles are also larger than the competition, which means fewer "joints" and therefore wasted space.

Compared to traditional installed solar panels, SunRoof uses less material because it does not require a frame. According to Kanyuk, this helps reduce emissions and costs in the supply chain.

"We really don't know of a competitor that produces more power per square meter than us," he added. We are both more efficient than Tesla and cheaper than Tesla.

The company It was founded in 2013 by Buzzard's brother Carol, a civil engineer who sought a more aesthetic alternative to solar panels and developed the technology for his home. In the year It was a part-time job for several years until he appointed his brother Lake as CEO in 2019 when they started growing.

The CEO previously ran the Pizza Portal food delivery company in Poland, which was acquired by Delivery Hero and the Polish iTaxi app.

The brothers now want to build "virtual power plants" in every home and provide their customers with a solar roof, energy storage app and consumption monitoring.

Sunroof is currently running a pilot project in Sweden, operating as a utility company that buys excess power from consumers and sells it to others. In addition to solar roof technology, Buzzard sees this as an exciting business model for the future.

The fresh cash will be used to expand the company in emerging markets such as Germany, Scandinavia, Poland and the United States. Buzzard expects SunRoof to be the market leader by the end of 2023, with plans to expand the company globally.

With technology funding conditions slowing in 2022, SunRoof closed the round in two rounds. Buzzard originally received about 15 million euros (about $16.2 million) from Clima Energy Transfer, but wanted to raise 22 million to meet the company's goals. The announcement of the first class "accelerated" interest and ultimately led to registrations for the round, Buzzard added.

We got an exclusive preview of the edited 9-slide presentation used for the fundraiser.

Is Tesla's solar roof worth it?