Insolight secures CHF 4.85 million to accelerate their commercial roll-out.
Two new investors will join Insolight on their journey to scale up the deployment of insolagrin, their innovative agrivoltaic solution. The team will now set-up large-scale installations in Switzerland and France before expanding internationally and increasing the number of target crops.
Demeter, a major European venture capital player in the agritech and cleantech industries, and the Smart Energy Innovation Fund, the Corporate Venture Capital Fund of Energie 360°, a Zurich-based sustainable energy and mobility service provider, have joined existing investors Verve Ventures and Zürcher Kantonalbank to support the Vaud-based company’s growth.
The funds will allow Insolight to deploy their first large-scale insolagrin installations that will initially be used by berry growers in Switzerland and France. The company then aims to replicate these installations globally and increase the number of target crops. The round will also support the company’s commercial scale-up and strengthen the development of their project pipeline, targeting multiple tens of millions of Euros in the next two years.
Cyrille Cabaret, Partner at Demeter, who will be joining the Insolight board, commented on the development: “Insolight holds a unique position in the fast-growing agrivoltaics market, with an efficient combination of PV production and agronomical expertise. The company has recently reached compelling milestones and they are now ready to deploy their innovative agrivoltaic solutions throughout Europe. We are delighted to join the team for this new promising chapter and to bring our experience in agriculture and energy alongside renowned investors like Energie 360°”.
Metin Zerman, Investment Manager at Energie 360°’s Smart Energy Innovation Fund said: “The simultaneous use of land for agricultural crop production and PV power generation is a future market with enormous potential that has not yet been fully utilized today. We are very proud to have found a leading provider for Agri PV in Insolight and are very much looking forward to working with the team and the distinguished group of investors to tackle this huge market”
Laurent Coulot, CEO and Co-Founder at Insolight said: “The round has a very interesting setup for our core markets. We will not only bring agritech and engery experts on board, but we also expand our network in France and the DACH region. Thank you to all our investors. We now look forward to feeding citizens and the grid with our installations”.
Founded in Lausanne (CH) in 2015 by Laurent Coulot (CEO), Mathieu Ackermann (CTO) & Florian Gerlich (Product Architect), Insolight is bringing to market insolagrin – a dynamic agrivoltaic solution. With a single infrastructure, insolagrin enables both agricultural and electricity production on the same land. The system provides protection for the crops and controls light transmission to plants through dynamic shading while harvesting excess light into electricity. By replacing plastic tunnels, the market opportunity is sizable: berries alone represent more than 200 GW p in Europe. Our team is on a mission to deliver a solution that can impact globally both the energy and agriculture sectors. Insolight has developed a Global Partnership Program which Migros and SwissRe Foundation have already joined.
Learn more at www.insolight.ch.
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