BayWa r.e. Energy Ventures led a 1.25 million Euro investment round into the Berlin-headquartered startup Circadian to help accelerate the energy transition in frontier markets. The investment round was supported by Rockstart Energy, Persistent Energy Capital, Great Stuff Ventures, Tofino Capital, and Ralicap Climate.
Circadian Technologies makes an Energy Management System hardware and Software as a Service (SaaS) solution for solar developers and asset owners, particularly in grid-challenged emerging market countries in Africa. Thanks to the all-in-one solution platform, the entire project value chain, from site assessment and design to commissioning and asset management, can be optimised. Therefore, Circadian helps C&I companies to adopt renewable energy systems in place of diesel generators, starting with Telecom Tower companies across the continent, driving forward decarbonisation on a significant scale.
The company was founded by Mike Rosenberg and Max Boit, who have extensive experience in the African market as well as comprehensive industry knowledge. Together with their team, they strive to become the leading B2B platform for Distributed Energy Resources (DER) in emerging markets.
Greg Zavorotniy, Managing Director at BayWa r.e. Energy Ventures, comments: "With their innovative technology, Circadian facilitates solar micro grids for companies in emerging markets, making an important contribution towards decarbonisation. This is our first investment on the African continent, and we are excited to see more opportunities from companies looking to accelerate energy transition in the region."
"We want to empower renewable energy installers and strive to be the catalyst for the mass adoption of decentralised energy in growth markets. Circadian is currently scaling across Africa, where we want to extend the team, build out the platform's functionalities and drive further growth. The backing of our investors will be a tremendous help for this," said Mike Rosenberg, CEO of Circadian.