Soly is a technology company.
Soly has raised $33.0M across 1 funding round.
Soly has raised $33.0M in total across 1 funding round.
Soly is an international clean energy technology company specializing in decentralized solar energy solutions. It develops and sells advanced solar panels, home battery storage systems, and electric vehicle (EV) charging stations, primarily serving residential and business customers. Soly also offers dynamic energy contracts that incentivize customers to use energy when prices are low or negative, enhancing cost savings and grid efficiency. The company operates in multiple countries including the Netherlands, South Africa, Belgium, Germany, the UK, and Italy, having installed over 850,000 solar panels across these markets. Soly’s proprietary software platform streamlines the customer journey digitally, enabling rapid installation and commissioning of solar and energy storage systems, which has fueled strong growth and market leadership in Europe’s decentralized energy sector[1][2][4][5].
Founded in 2013 by brothers Patrick and Milan van der Meulen in Groningen, Netherlands, Soly was inspired by the environmental urgency highlighted in Al Gore’s documentary *An Inconvenient Truth*. The founders aimed to make solar energy accessible to everyone, using entrepreneurship as a force for good. Early on, Soly focused on creating a fully digital, customer-centric platform for ordering and installing rooftop photovoltaic (PV) systems, batteries, and EV chargers. This approach enabled rapid growth and international expansion, with the company entering new markets such as South Africa in 2019 and several European countries thereafter. Key milestones include winning a spot in Deloitte’s Technology Fast50 in 2021 and achieving B Corp certification in 2018, underscoring its commitment to sustainability and social impact[2][5][6].
Soly rides the global trend toward decentralization and decarbonization of energy systems. The shift from fossil fuels to renewable, distributed energy resources (DERs) is accelerating due to climate imperatives, rising energy prices, and supportive policies. Soly’s timing is advantageous as European solar markets experienced rapid growth (40% in 2022) despite recent market volatility. By integrating solar generation, storage, and smart energy management, Soly contributes to grid stability and empowers consumers to participate actively in energy markets, including future plans to bundle users into Virtual Power Plants. This positions Soly as a key player in the transition to a cleaner, more resilient energy ecosystem[2][4].
Looking ahead, Soly aims to deepen its international footprint and expand its product and service offerings, including smart energy management solutions to enhance customer value and grid interaction. Trends shaping its journey include increasing electrification, digitalization of energy systems, and growing consumer demand for sustainable energy options. Soly’s influence is likely to grow as it helps democratize solar energy access and accelerates the adoption of decentralized clean energy technologies. Its mission to be carbon neutral by 2030 aligns with global climate goals, reinforcing its role as a sustainability leader in the energy tech sector[1][2][6].
Soly has raised $33.0M in total across 1 funding round.
Soly's investors include ArcTern Ventures, Energy Impact Partners, Fifth Wall, Future Energy Ventures, National Grid Partners.
Soly has raised $33.0M across 1 funding round. Most recently, it raised $33.0M Series B in January 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2024 | $33.0M Series B | ArcTern Ventures, Energy Impact Partners, Fifth Wall, Future Energy Ventures, National Grid Partners |