Beem raises 20m€ to accelerate the energy transition in European homes
May 30, 2023
May 30th, 2023 – Beem, a positive impact startup from Nantes, continues its acceleration with a Series A fundraising round of 20 million euros, with the aim to continue empowering European homes to better manage their energy. As part of its development strategy, this key milestone will allow the company to meet the growing demand from individuals to produce their own renewable energy and strengthens its position as leader in the home energy management market.
Supported by its historical investors Alter Equity, 360 Capital and BNP Paribas Development, Beem has earned additional support from Cathay Innovation via its fund C.Entrepreneurs, a true warrant of trust in an economic context marked by a decreasing investment, highlighting the importance given to renewable energies and new BtoC solutions.
Series A fundraising, to make the energy transition accessible to all
Since its creation in the start-up studio Imagination Machine, Beem has given itself the mission of enabling every household to better control their energy. By promoting the adoption of solar self-consumption through simple solutions, the company encourages everyone to better understand, control and save their energy. These solutions meet a real need, according to a recent study, no less than 74% of French people wish to produce their own energy at home*.
The company’s first product, the Beem Kit, is a connected solar kit designed to be installed by the user themself. By producing their own solar energy and optimizing their consumption at home thanks to the energy coaching application, users can save up to 250€ in electricity each year. This DIY solution is at the heart of current consumer issues: purchasing power, and sobriety in a context of high inflation and energy tension.
The solutions offered by Beem are designed to be technically efficient but also simple and educational to use, thus removing today’s obstacles to self-consumption energy.
“Since day one at Beem, we have been convinced that we must transform the relationship individuals have with their energy,” recalls Ralph Feghali, co-founder of Beem. “Today, with the growth of inflation and in a context of ecological emergency, we are more than ever convinced of the need to restore the relationship between individuals and their energy. This fundraising confirms the confidence that our investors, historical and new, have in our project and allows us to accelerate our impact.”
“Beem embodies the new generation of smart, sustainable energy solutions. Alongside Beem’s teams, we want to make a positive contribution to transforming and optimizing the way energy is produced and consumed. Together, we plan to have a real impact by shaping a future where energy is used more intelligently, more efficiently and more respectfully for the environment, while enabling users to make significant savings,” says Jacky Abitbol, Managing Partner at Cathay Innovation.
“Convinced by the team’s vision and commitment to enabling mass adoption of self-consumption since our very first discussions, we were impressed by their ability to execute in this phase of rapid growth. We are very happy to support the company in this new stage,” adds Félix Mounier from Alter Equity.
“We are very pleased to renew our trust in Beem, as the team continues to perfectly execute its vision of enabling consumers to become fully involved in the ecological transition by offering them a solution that is both economically beneficial and respectful of the environment” announces Alexandre Mordacq on behalf of 360 Capital.
“We have been supporting Beem since the year of its creation and we are impressed by its growth, the perfect execution of its strategy and the accuracy in its execution. Their vision for accelerating the energy transition in the home, which we immediately liked, has made particular sense in recent years. This relevance, and this new fundraising will allow Beem to continue to bring the innovation that the market needs”, testifies Grégoire Duverne for BNP Paribas Development.
Offer an unparalleled user experience, develop the Beemer community and accelerate the deployment of renewable energies
With a community of tens of thousands of homes spread across France and Europe and a target impact of 1000GWh per year, the Nantes-based company has set itself the goal of equipping over 500,000 homes by 2030. Beem wishes to continue to conquer European territory, particularly in Germany, Italy and the Netherlands.
To do this, Beem’s ambition is to create an ecosystem of innovative products with an unparalleled user experience. With 4 patents filed on their existing products, R&D is key at Beem to really put the consumer at the heart of energy management.
*Beem x Opinion Way study, March 2023
Beem is an impact startup founded in Nantes in 2019 by Ralph Feghali, Arthur Kenzo and Pierre-Emmanuel Roger. A pioneer in the field of energy management, Beem is developing an ecosystem of products and services to accelerate the energy transition at home. With already several tens of thousands of homes equipped in France and Europe, Beem will enable over 500,000 households to better manage their energy by 2030.
About 360 Capital: European Early Stage Investor
360 Capital is an early-stage venture capital company (pre-seed, seed and Series A) which invests in Europe in process optimization software solutions, in deeptech, and in new B2C uses.
For 25 years, she has supported talented entrepreneurs in the creation of high-growth technology companies. Led by an experienced team based in Paris, London and Milan, 360 Capital manages €450 million in assets and a portfolio of over 60 holdings.
For more information: www.360cap.vc
About Alter Equity
An independent management company, Alter Equity was born from the desire to finance the environmental and social transitions that our society needs towards a more sustainable, more generous, more humane and globally more responsible economy. It was the first in France to support the general interest in its dual social and environmental dimension while seeking a financial return that remunerates the risk taken by its subscribers and the concept of positive impact investment. It is currently deploying its second fund of €110m by investing amounts of €3m to €10m in the capital of European startups whose activity is useful to people or the environment. It was also the first non-listed fund management company to impose as a condition for its investment the commitment to a rigorous CSR approach, requiring in particular to carry out a carbon assessment and to open up the capital to all employees.
About BNP Paribas Development
BNP Paribas Development, an independent subsidiary of the international banking group BNP Paribas, is a public limited company that has been investing its own funds directly for more than 30 years as a minority shareholder to support the development of SMEs & high-performance ETIs and ensure their sustainability by facilitating their transmission. In 2016, BNP Paribas Development created a team dedicated to investing in innovative companies, from the seed stage and in all subsequent fundraising phases, with the aim of supporting the growth of high-potential start-ups. Beyond the financial means made available to the company to ensure stable resources, the vocation of Classification: Internal BNP Paribas Development is to support the management team over the long term in the realization of its medium-term strategic projects. . Our minority positioning ensures our partners appropriate governance without interference in day-to-day management, while benefiting from the strength of a recognized group and the experience of a partner with a portfolio of more than 500 diversified holdings, including 80 startups. www.bnpparibasdeveloppement.com/
About Cathay Innovation
Cathay Innovation is a global venture capital fund, created in conjunction with Cathay Capital Private Equity. Cathay Innovation invests in startups at the heart of the digital revolution in North America, Latin America, Europe, Asia and Africa. Its global platform connects entrepreneurs, investors and large groups on all continents to accelerate the growth of startups by giving them access to new markets, valuable knowledge about their industry and introducing them to potential partners from the start. As a multi-stage fund, with over $2 billion in assets under management and offices in San Francisco, New York, Paris, Shanghai, Beijing and Singapore, Cathay Innovation partners with visionary entrepreneurs and startups who positively impact the world through their technology. To learn more, visit us at www.cathayinnovation.com or follow us on Twitter @cathayinnov.