In spite of the pessimistic sentiment in the German economy, startups from selected industries continue to attract significant investments, notably in green technologies.
From January to June, despite inflation, interest rate hikes, and economic downturn, approximately 1.6 billion euros flowed into climate or cleantech startups, according to data from the Pitchbook data service, exclusively obtained by Handelsblatt. This amount is nearly the same as the previous year.
One of the shining stars in the German startup scene is Enpal, the Berlin-based solar panel rental company. Earlier this year, they secured 215 million euros, effectively doubling their company valuation.
“We have climate policy goals in Europe that promote revenue and sales for companies,” explains Daniel Kroll, a partner at investment bank TD Cowen, justifying the sustained high investments in green technologies. Under these conditions, the risk associated with investments decreases.
Source
Wo Kapitalgeber trotz der Wirtschaftsschwäche investieren [Where investors invest despite economic weakness], Handelsblatt, 2023-09-25
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