BayWa r.e. Energy Ventures, a venture investment firm affiliated with BayWa r.e.’s venture capital subsidiary, has taken the lead in a funding round, amounting to 1.25 million Euros ($1.3M), to support the Berlin-based and Africa-focused energy startup Circadian. This strategic investment is aimed at expediting the global transition towards sustainable energy solutions, especially in underserved markets. Joining in this financing initiative are notable backers, including Rockstart Energy, Persistent Energy Capital, Great Stuff Ventures, Tofino Capital, and Ralicap Climate.
Circadian Technologies is at the forefront of innovation, offering a comprehensive Energy Management System that encompasses both hardware and Software as a Service (SaaS). Their platform is tailored to meet the specific needs of solar developers and asset owners, with a particular focus on addressing the challenges posed by unstable grids in emerging market nations across Africa. The all-in-one solution empowers the entire value chain of solar projects, streamlining processes from initial site assessment and design through to commissioning and ongoing asset management. This remarkable technology enables commercial and industrial (C&I) enterprises to transition to renewable energy sources in lieu of diesel generators, starting with telecommunications tower companies throughout the African continent. This transition represents a significant step toward decarbonization.
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Circadian was founded by industry veterans Mike Rosenberg and Max Boit, who bring extensive experience in the African market and a profound understanding of the energy sector. Together with their dedicated team, they are committed to establishing themselves as a leading business-to-business (B2B) platform for Distributed Energy Resources (DER) in emerging markets.
Greg Zavorotniy, Managing Director at BayWa r.e. Energy Ventures, expressed his enthusiasm for this investment, stating, “Circadian’s innovative technology enables the creation of solar microgrids in emerging markets, contributing significantly to decarbonization efforts. This marks our first investment on the African continent, and we eagerly anticipate further opportunities from companies dedicated to advancing the energy transition in the region.”
Mike Rosenberg, CEO of Circadian, emphasized their mission, saying, “We aim to empower renewable energy installers and act as a catalyst for the widespread adoption of decentralized energy solutions in growing markets. Circadian is currently expanding its presence across Africa, with plans to bolster the team, enhance platform functionalities, and drive further growth. The support from our investors will play a pivotal role in achieving these objectives.”
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Circadian’s primary operational footprint spans West, East, and Southern Africa, where their innovative solutions are making a tangible impact on the transition to cleaner and more sustainable energy sources.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard