Think Solar is boring and everything’s been done before?
Think again.
If you’re in the Solar industry or are interested in starting a company in this space, this article dives into 27 of the hottest fast-growing Solar startups.
Top 27 Solar Startups in 2023
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2,189 Accelerators & Incubators
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1,016 Unicorns
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1,190 Unicorns
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250 FinTech Investors
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Lightyear is a solar electric car startup located in the Netherlands that is developing an ultra-energy-efficient automobile platform.
Details of the startup:
- Country: The Netherlands
- State: Noord-Brabant
- City: Helmond
- Started in: 2016
- Founders: Arjo van der Ham, Koen van Ham, Lex Hoefsloot, Martijn Lammers, Qurein Biewenga
- Number of employees: 101-250
- Funding: € 87,397,000
- Funding rounds: 6
- Number of investors: 5 (EASME - EU Executive Agency for SMEs, BOM, Zero Point Holding, SHV Holdings, Sioux High Tech Software Ltd.)
You can find their website here.
2) Enpal
Enpal is a corporation that specializes in solar energy.
Details of the startup:
- Country: Germany
- State: Berlin
- City: Berlin
- Started in: 2017
- Founders: Jochen Ziervogel, Mario Kohle, Viktor Wingert
- Number of employees: 251-500
- Funding: € 10,000,000
- Funding rounds: 7
- Number of investors: 9 (HV Capital, Berenberg, Picus Capital, Lukasz Gadowski, Robert Gentz)
You can find their website here.
3) Exeger Sweden AB
Exeger Sweden AB is a company that develops and sells novel materials that improve the efficiency of solar cells.
Details of the startup:
- Country: Sweden
- State: Stockholms Lan
- City: Stockholm
- Started in: 2008
- Founders: Giovanni Fili
- Number of employees: 11-50
- Funding: $66,145,187
- Funding rounds: 7
- Number of investors: 6 (SoftBank, Maropost Ventures, Swedbank, Svensk Exportkredit, Ilija Batljan)
You can find their website here.
4) Sunseap
Sunseap is a Singapore-based solar and renewable energy company.
Details of the startup:
- Country: Singapore
- State: Central Region
- City: Singapore
- Started in: 2011
- Founders: Frank Phuan, Lawrence Wu
- Number of employees: 51-100
- Funding: $188,836,128
- Funding rounds: 8
- Number of investors: 15 (Temasek Holdings, United Overseas Bank, Sumitomo Corporation, DBS Bank, ING Group)
You can find their website here.
5) Sono Motors
Sono Motors is a company that provides transportation and energy services all over the world.
Details of the startup:
- Country: Germany
- State: Bayern
- City: Munich
- Started in: 2016
- Founders: Jona Christians, Laurin Hahn, Navina Pernsteiner
- Number of employees: 101-250
- Funding: $126,588,253
- Funding rounds: 6
- Number of investors: 7 (Headline, Lorenz Bogaert, Swedbank Robur, Bollinger Investment Group, Wi Ventures)
You can find their website here.
6) Otovo
Otovo is a marketplace for installing distributed energy systems. The business is constructing Europe's first home solar power plant.
Details of the startup:
- Country: Norway
- State: Oslo
- City: Oslo
- Started in: 2016
- Founders: Andreas Bentzen, Andreas Thorsheim, Lars Syse Christiansen, Simen Fure Jorgensen
- Number of employees: 101-250
- Funding: $38,906,653
- Funding rounds: 5
- Number of investors: 8 (StartupLab, D-Ax Corporate Venture Capital, Nysnø, Agder Energi Venture, OBOS Forsikring)
You can find their website here.
7) Sonnedix
Sonnedix Solar is a global power company focused to generating future low-carbon solar energy.
Details of the startup:
- Country: France
- State: Bretagne
- City: Rennes
- Started in: 2009
- Founders: Andreas Mustad, Pablo Pulido Mendoza
- Number of employees: 51-100
- Funding: $562,958,154
- Funding rounds: 3
- Number of investors: 2 (Sumitomo Mitsui Banking Corporation, Hamburg Commercial Bank)
You can find their website here.
8) Heliatek
Heliatek designs, manufactures, and markets organic PV solutions for nearly any building surface as a technology leader in organic photovoltaics.
Details of the startup:
- Country: Germany
- State: Sachsen
- City: Dresden
- Started in: 2006
- Founders: Bert Mannig, Karl Leo, Martin Pfeiffer
- Number of employees: 101-250
- Funding: $157,004,697
- Funding rounds: 8
- Number of investors: 18 (High-Tech Grunderfonds, Engie, Bosch, BASF, Wellington Partners)
You can find their website here.
9) TRINE
Innovative finance methods are being used to fund energy access.
Details of the startup:
- Country: Sweden
- State: Vastra Gotaland
- City: Gothenburg
- Started in: 2015
- Founders: Andreas Lehner, Christian Genne, Christoffer Falsen, Sam Manaberi
- Number of employees: 1-10
- Funding: $7,420,187
- Funding rounds: 2
- Number of investors: 4 (Chalmers Ventures AB, Gullspång Invest, Andrew Reicher, Lars Thunell)
You can find their website here.
10) Cleantech Solar
Cleantech Solar is a solar developer that invests in, owns, and manages solar PV installations around Asia.
Details of the startup:
- Country: Singapore
- State: Central Region
- City: Singapore
- Started in: 2014
- Founders: Andrew Jones, Holger Eick, Raju Shukla, Robert Morrice
- Number of employees: 101-250
- Funding: $125,000,000
- Funding rounds: 3
- Number of investors: 3 (Royal Dutch Shell, ING Group, Climate Fund Managers)
You can find their website here.
11) Amp Solar Group
Amp Solar Group is a global developer of clean energy infrastructure that is adaptable.
Details of the startup:
- Country: Canada
- State: Ontario
- City: Port Credit
- Started in: 2009
- Founders: David Rogers
- Number of employees: 101-250
- Funding: $527,480,044
- Funding rounds: 2
- Number of investors: 2 (The Carlyle Group, Zoma Capital)
You can find their website here.
12) Nova Lumos
Solar electricity is available from Nova Lumos to off-grid households and small enterprises.
Details of the startup:
- Country: The Netherlands
- State: Noord-Holland
- City: Amsterdam
- Started in: 2012
- Founders: Adam Howard, Davidi Vortman
- Number of employees: 251-500
- Funding: $137,000,000
- Funding rounds: 3
- Number of investors: 5 (OPIC - Overseas Private Investment Corporation, MoreVC, VLTCM, Rural Electrification Agency, Pembani Remgro Infrastructure Managers)
You can find their website here.
13) Evergen
Smarter energy is made possible with Evergen software.
Details of the startup:
- Country: Australia
- State: New South Wales
- City: Newcastle-AUS
- Started in: 2015
- Founders: Ben Hutt, Nick McGrath
- Number of employees: 51-100
- Funding: $11,809,467
- Funding rounds: 3
- Number of investors: 5 (Artesian VC, CSIRO, AMP Capital Investors, Providence Asset Group, Artesian Clean Energy Seed Fund)
You can find their website here.
14) Solfácil
In Brazil, Solfácil is the most popular solar investing platform.
Details of the startup:
- Country: Brazil
- State: Sao Paulo
- City: Sao Paulo
- Started in: 2018
- Founders: Fabio Carrara
- Number of employees: 51-100
- Funding: $25,000,000
- Funding rounds: 3
- Number of investors: 1 (Valor Capital Group)
You can find their website here.
15) ReNew Power
ReNew Power is an Indian wind energy company.
Details of the startup:
- Country: India
- State: Haryana
- City: Gurgaon
- Started in: 2011
- Founders: Sumant Sinha
- Number of employees: 101-250
- Funding: $2,776,179,257
- Funding rounds: 12
- Number of investors: 9 (Goldman Sachs, Yes Bank, Canada Pension Plan Investment Board, Abu Dhabi Investment Authority, OPIC - Overseas Private Investment Corporation)
You can find their website here.
16) Freyr Energy
Freyr Energy is a full-service solar provider headquartered in Hyderabad, India.
Details of the startup:
- Country: India
- State: Andhra Pradesh
- City: Hyderabad
- Started in: 2014
- Founders: Radhika Choudary, Saurabh Marda
- Number of employees: 11-50
- Funding: $4,642,064
- Funding rounds: 4
- Number of investors: 4 (Total Carbon Neutrality Ventures, C4D Partners, Impact Partners, Schneider Electric Energy Access Asia)
You can find their website here.
17) Fourth Partner Energy
Fourth Partner Energy offers consumers in India turnkey rooftop solar energy systems.
Details of the startup:
- Country: India
- State: Andhra Pradesh
- City: Hyderabad
- Started in: 2010
- Founders: Saif Dhorajiwala, Vikas saluguti, Vivek Subramanian
- Number of employees: 11-50
- Funding: $138,332,785
- Funding rounds: 7
- Number of investors: 12 (The Rise Fund, responsAbility, CDC Group, The Chennai Angels, Triodos Investment Management)
You can find their website here.
18) Noccarc Robotics
Noccarc Robotics, a SIIC IIT Kanpur incubatee firm, is a manufacturer of goods for the MedTech and CleanTech industries.
Details of the startup:
- Country: India
- State: Maharashtra
- City: Pune
- Started in: 2017
- Founders: Harshit Rathore, Nikhil Kurele
- Number of employees: 51-100
- Funding: ₹124,000,000
- Funding rounds: 1
- Number of investors: 2 (Indian Angel Network, IAN Fund)
You can find their website here.
19) ZunRoof
ZunRoof is a home-tech firm that provides solar rooftop systems with smart and clean energy.
Details of the startup:
- Country: India
- State: Haryana
- City: Gurgaon
- Started in: 2016
- Founders: Kartik Marwah, Pranesh Chaudhary, Sushant Sachan
- Number of employees: 51-100
- Funding: $4,669,234
- Funding rounds: 6
- Number of investors: 9 (Ramakant Sharma, Paipal Ventures, Intellecap Impact Investment Network, Godrej family office, Ajith R. Pai)
You can find their website here.
20) SunSource Energy
SunSource Energy is a solar power company that designs, engineers, procures, builds, and runs solar power facilities and projects.
Details of the startup:
- Country: India
- State: Uttar Pradesh
- City: Noida
- Started in: 2010
- Number of employees: 101-250
- Funding: ₹422,900,000
- Funding rounds: 1
- Number of investors: 1 (SBICAP Ventures)
You can find their website here.
21) Husk Power Systems
Husk Power Systems installs mini-power plants and designs and provides end-to-end renewable energy solutions.
Details of the startup:
- Country: India
- State: Bihar
- City: Patna City
- Started in: 2008
- Founders: Chip Ransler, Gyanesh Pandey, Manoj Sinha, Ratnesh Kumar
- Number of employees: 101-250
- Funding: $25,625,000
- Funding rounds: 5
- Number of investors: 8 (Acumen, Engie, Cisco, Shell Ventures, Bamboo Capital Partners)
You can find their website here.
22) Frontier Markets
Frontier Markets connects rural clients with life-improving products and services while also providing rural women with digital livelihoods.
Details of the startup:
- Country: India
- State: Rajasthan
- City: Jaipur
- Started in: 2011
- Founders: Ajaita Shah
- Number of employees: 51-100
- Funding: $2,250,000
- Funding rounds: 4
- Number of investors: 9 (Acumen, The Rise Fund, Unilever Ventures, Beyond Capital, Rianta Capital)
You can find their website here.
23) Blue Origin
Blue Origin is an aerospace business whose mission is to reduce the cost of spaceflight while also assisting in the exploration of the solar system.
Details of the startup:
- Country: United States
- State: Washington
- City: Kent
- Started in: 2000
- Founders: Jeff Bezos
- Number of employees: 251-500
- Funding: $13,000,000
- Funding rounds: 1
- Number of investors: 1 (NASA)
You can find their website here.
24) Arcadia
Arcadia is a home energy platform that offers both clean energy and cost savings.
Details of the startup:
- Country: United States
- State: District of Columbia
- City: Washington D.C.
- Started in: 2013
- Founders: Kiran Bhatraju, Ryan Nesbitt
- Number of employees: 101-250
- Funding: $70,500,000
- Funding rounds: 7
- Number of investors: 16 (BoxGroup, City Light Capital, Energy Impact Partners, Macquarie Capital, G2VP)
You can find their website here.
25) Heliogen
Heliogen is a renewable energy technology firm that harnesses the sun's energy to replace fossil fuels.
Details of the startup:
- Country: United States
- State: California
- City: Pasadena
- Started in: 2013
- Founders: Aaron Fyke, Bill Gross
- Number of employees: 51-100
- Funding: $128,550,000
- Funding rounds: 5
- Number of investors: 18 (Bill Gates, Revolution’s Rise of the Rest Seed Fund, Prime Movers Lab, Neotribe Ventures, Steve Case)
You can find their website here.
26) Navitas Semiconductor
For the power supply industries, Navitas Semiconductor develops a range of GaN power ICs.
Details of the startup:
- Country: United States
- State: California
- City: El Segundo
- Started in: 2014
- Founders: Dan Kinzer, Gene Sheridan, Nick Fichtenbaum
- Number of employees: 11-50
- Funding: $47,088,914
- Funding rounds: 4
- Number of investors: 3 (Atlantic Bridge, Capricorn Investment Group, MESH)
You can find their website here.
27) Aurora Solar
Aurora Solar is a software-as-a-service startup that assesses solar installation projects using aerial images.
Details of the startup:
- Country: United States
- State: California
- City: San Francisco
- Started in: 2013
- Founders: Christopher Hopper, Samuel Adeyemo
- Number of employees: 101-250
- Funding: $323,470,493
- Funding rounds: 3
- Number of investors: 6 (ICONIQ Capital, Coatue, Fifth Wall, Pear VC, Energize Ventures)
You can find their website here.
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