11 solar startups funded in 2022

December 21, 2022

solar panel startup

As the solar energy industry continues to gain traction as an important way to combat climate change, investments into promising startups within the sector have been increasing year over year. 

In 2022, eleven particularly ambitious startups secured funding and are now pushing forward with exciting plans for renewable energy projects which could revolutionize how we use these technologies in our everyday lives. 

In this post, we will take you through each of these 11 high-profile solar startups funded in 2022 and look at their unique characteristics that catapulted them into a world of continued success. Get ready for an inspiring journey around the globe towards a brighter future!

1. Sun King

Headquarters: Nairobi, Nairobi Area, Kenya

Founders: Anish Thakkar, Mayank Sekhsaria, T. Patrick Walsh

Year founded: 2007

Latest funding: $70,000,000 (Series D)

Total funding: $567,000,000

Investors: Citi, LeapFrog Investments, responsAbility, Deutsche Bank, SunFunder

What they do: Sun King sells, installs and finances solar home systems for the 1.8 billion off-grid and under-electrified consumers.

2. SolarSquare Energy

Headquarters: Mumbai, Maharashtra, India

Founders: Shreya Mishra

Year founded: 2015

Latest funding: $12,094,538 (Series A)

Total funding: $16,052,443

Investors: Lowercarbon Capital, Elevation Capital, Better Capital, Climate Angels, Sanjeev Barnwal

What they do: SolarSquare Energy is a residential solar company that designs and installs solar rooftop panels for homes and commercial establishments. Trusted by more than 4000 homeowners and fortune 500 companies, SolarSquare strives to help customers save a minimum of Rs. 2000 on their monthly electricity bills.

3. 5B Australia

Headquarters: Alexandria, New South Wales, Australia

Founders: Chris McGrath, Eden Tehan

Year founded: 2013

Latest funding: $17,064,741 (Series B)

Total funding: $47,329,472

Investors: Artesian VC, AES, AES Corporation, BP Ventures

What they do: 5B is a clean technology innovator and developer of the Maverick solution. 5B accelerates the transformation of the world to a clean energy future by developing and delivering technology and solutions that make clean energy more competitive, accessible and powerful than ever before

4. SmartHelio

Headquarters: Lausanne, Vaud, Switzerland

Founders: Govinda Upadhyay

Year founded: 2019

Latest funding: $5,000,000 (Seed)

Total funding: $6,010,000

Investors: Gaingels, Y Combinator, Collab Capital, Soma Capital, Venture Kick

What they do: SmartHelio is the revolutionary software that helps solar companies detect and identify faults quickly, enabling them to gain a significant performance boost of up to 3%! Their software uses advanced algorithms and data analysis to pinpoint issues within a solar system, providing real-time insights and recommendations for immediate action. This allows solar companies to quickly and easily resolve any issues, improving the overall performance and efficiency of their solar systems.

5. zolar

Headquarters: Berlin, Berlin, Germany

Founders: Alex Melzer, Gregor Loukidis

Year founded: 2016

Latest funding: $105,795,252 (Series C)

Total funding: $173,970,924

Investors: Energy Impact Partners, GIC, Heartcore Capital, Partech, AENU

What they do: With the zolar online configurator, homeowners can customise the components of their PV system to suit their individual requirements and receive personal assistance from one of our solar energy experts at the same time. zolar’s extensive network of local partner companies takes care of the installation on site. The Berlin-based start-up employs around 200 employees across Germany and pursues the vision of installing a PV system on every roof in the world in order to make private households more independent from the mains grid. 

6. Raptor Maps

Headquarters: Somerville, Massachusetts, United States

Founders: Eddie Obropta, Forrest Meyen, Nikhil Vadhavkar

Year founded: 2015

Latest funding: $22,000,000 (Series B)

Total funding: $27,200,000

Investors: DCVC, Y Combinator, DNV GL, Struck Capital, Congruent Ventures

What they do: Raptor Maps is the leading provider of lifecycle management software for the solar industry. We support portfolio owners, asset managers, O&M providers, EPC contractors, and independent engineers with software solutions that enable organization and asset efficiency. Raptor Maps enable solar companies to increase performance, reduce costs, and standardize & compare solar PV assets across a portfolio.

7. Solfácil

Headquarters: São Paulo, Sao Paulo, Brazil

Founders: Fabio Carrara, Vitor Leal

Year founded: 2018

Latest funding: $30,000,000 (Series C)

Total funding: $285,309,943

Investors: SoftBank, Fifth Wall, VEF, International Finance Corporation, Bossanova Investimentos

What they do: Solfacil is a renewable energy investment platform that allows people to invest in solar energy. It allows consumers to switch their monthly cost with electricity into a great investment in a solar system. Consumers benefit from zero downpayments, up to 30% immediate savings, 20+ years of free electricity, and the ability to produce and consume clean energy.

8. Elephant Energy

Headquarters: Harrisburg, Pennsylvania, United States

Founders: DR Richardson, Josh Lake

Year founded: 2021

Latest funding: $3,500,000 (Seed)

Total funding: $3,500,000

Investors: Building Ventures, Daniel Gulati, Reuben Munger

What they do: Elephant Energy is building a movement to provide the fastest, simplest, and most affordable way to reduce your carbon footprint.

9. Naked Energy

Headquarters: Crawley, West Sussex, United Kingdom

Founders: Christophe Williams, Nicholas Simmons

Year founded: 2009

Latest funding: $1,219,167 (Series B)

Total funding: $7,966,155

Investors: Barclays Ventures, Nesta, Green Angel Syndicate, ELM Companies, Big Sky Partners

What they do: Naked Energy has developed an innovative hybrid solar technology generating combined heat and power. The versatile, modular design of Virtu® places crystalline photovoltaic cells in an evacuated solar thermal collector.

10. CelLink

Headquarters: San Carlos, California, United States

Founders: Kevin Coakley

Year founded: 2012

Latest funding: $250,000,000 (Series D)

Total funding: $297,224,975

Investors: Ford Motor, Fidelity Management and Research Company, BorgWarner, T. Rowe Price, Franklin Templeton Investments

What they do: CelLink is an early-stage hardware startup that is developing a flexible conductive backplane for power electronics, including batteries, light-emitting diodes, wire harnessing, solar cells, and other devices requiring power transmission.

11. Ubiquitous Energy

Headquarters: Redwood City, California, United States

Founders: Miles Barr, Richard Lunt, Vladimir Bulović

Year founded: 2011

Latest funding: $30,000,000 (Series B)

Total funding: $74,987,038

Investors: National Science Foundation, Red Cedar Ventures, Hostplus, Safar Partners, Andersen Corporation

What they do: Ubiquitous Energy is the world leader in transparent photovoltaics. Its award-winning technology is the world’s only truly transparent solar product. UE technology harvests solar energy and serves as an invisible, onboard source of electricity for a variety of end products. The thin coating can be applied to the surface of windows glass to provide electricity generation and energy efficiency while remaining visibly indistinguishable from the fully transparent standard windows on the market today.


These eleven startups are doing big things and receiving a lot of buzz and funding from venture capitalists. 

If you're looking for similar startups to work with, be sure to sign up for our newsletter where we provide monthly updates on the latest companies worth keeping an eye out for and how to get in touch with their decision makers directly.

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