BayWa r.e. Energy Ventures, an investment firm under BayWa r.e.’s venture capital arm, led a 1.25 million Euro investment round in Berlin-based startup Circadian, aiming to accelerate the energy transition in developing markets. This funding received support from Rockstart Energy, Persistent Energy Capital, Great Stuff Ventures, Tofino Capital, and Ralicap Climate.
Circadian Technologies offers an all-in-one Energy Management System hardware and Software as a Service (SaaS) solution. Their focus is on assisting solar developers and asset owners, particularly in grid-constrained emerging markets in Africa. This comprehensive platform optimizes the entire project value chain, from site assessment and design to commissioning and asset management. As a result, Circadian facilitates the adoption of renewable energy systems by commercial and industrial (C&I) companies, replacing diesel generators, initially targeting Telecom Tower companies across the continent to drive substantial decarbonization efforts.
Greg Zavorotniy, Managing Director at BayWa r.e. Energy Ventures, said,“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,” added Mike Rosenberg, CEO of Circadian.
