Osborne Clarke has advised investor G2 Venture Partners on its investment in energy start-up 1KOMMA5°. 

The Hamburg-based start-up aims to enable everyone, regardless of income, to live a CO₂-neutral life. This is to be achieved by using photovoltaics, heat pumps and charging infrastructure. On the one hand, 1KOMMA5° participates in craft businesses in the fields of photovoltaics, electricity storage, charging infrastructure and heat pumps to provide advice and installation at the customer's premises. On the other hand, the start-up offers the networking and control of decentralised generation systems via its own software platform “Heartbeat”. Here, all installed systems are brought together to guarantee optimal and automatic operation management as part of a central IoT system through the use of algorithms.

Now the CleanTech company led by founder Philipp Schröder, who before 1KOMMA5° founded the battery storage specialist Sonnen and was the German CEO of the e-car manufacturer Tesla, has raised EUR 215 million in its Series B financing round. As a result, the company is already considered a unicorn 23 months after its founding. This term is used to describe companies with a valuation of more than one billion euros. 

1KOMMA5°'s new funding round was led by investor G2 Venture Partners, a climate tech venture capital firm that spun out of well-known Silicon Valley investor Kleiner Perkins in 2016. Other backers include existing investors such as eCapital, Porsche Ventures, Haniel, Eurazeo and b2venture. The round was heavily oversubscribed, the company reports.

1KOMMA5° intends to invest the fresh money in technology related to the networking of electricity production on home rooftops as well as consumption and trading. Further acquisitions are also planned, particularly in other European countries.

The Osborne Clarke team advising G2 Venture Partners, led by Dr Benjamin Monheim and Maximilian Vocke, consisted of Fabian Mimberg, Alexandra Nautsch, Dana Alpar, Fenja Striesow (all Corporate / VC), Dr. Daniel Walter, Rebecca Ungerechts (both Regulatory / Banking), Robert Briske, Jonas Müter (both IP), Dr. Lina Böcker, Maximilian Bodamer, Tim Schmetzer (all IT), Carsten Dau, Sarah Grigo, Dennis Obermüller (all Commercial), Dr. Alexander Dlouhy, Dr Marleen Rheker, Dr David Langenbach, Svenja Kaufeld (all Energy Law), Dr Robert Rentsch, Kamissa Kruse, Julian Jentsch (all Employment Law), Eric Romba (FinTech / Regulatory Law), Susanne Schricker, Manuel Schuster (both Antitrust Law), Dr Marc Störing, Neil Simon-Weaver, Lina Mondy (all Data Protection) and Dr Jens Wrede (Tax). 

In addition, Marcia A. Hatch and Jake Plotnik of Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP advised. 

The mandate came about through the mediation of Dr Fabian Christoph.

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