Renewable energy: €7 million fundraising for the startup Beem Energy and its solar panel kit

Beem Energy has developed a plug and play solution to convert energy from the sun into electricity, which will be easy to use at home. The company from Nantes is growing fast and has completed its second fundraising campaign, bringing funds raised to a total of €9 million.

Self-consumption of electricity is one of the ways to decarbonise our lifestyle and preserve resources. Photovoltaic panels have been developed in recent years, but less than 1% of French homes have them. Beem wants to “democratize solar energy” with an easy-to-install kit that costs only 780€.

The kit includes four solar panels and can be connected to the home network by using a standard electrical outlet and installation takes less than one hour. The company says that its 300W kit is capable of producing up to 15% of household energy (excluding heating).

Flash growth and second fundraising campaign

In its first year, Beem Energy has sold over 2,000 solar kits. And sales are expected to explode, as the products are now available in large specialty stores such as Leroy Merlin, Boulanger and Nature & Découvertes.

After having raised €2 million in 2019, the year of its creation, Beem has recently closed a €7 million funding round with private funds from the public bank for investment Bpifrance and business angels from startups such as Crisp, which is also based in Atlantic France. 

According to the newspaper Les Echos, these new funds will support the commercial expansion of the kit throughout Europe and product diversification. The company plans to double its current workforce of 20 people.