SOLYTIC Raises $3.6 Million In A New Funding Round

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Below is our recent interview with Alwin Nagel, the Founder & CCO at Solytic.com:

Alwin Nagel

Q: You’ve recently announced $3.6 Million Seed funding round; could you tell us something more?

A: We call it late-seed investment as we were already in the MVP phase and testing with strategic partners, before funding.

Q: Could you provide our readers with a brief introduction to SOLYTIC?

A: SOLYTIC is a provider of independent monitoring and analytics software for solar-PV professionals. We focus on Europe for now, to build up our product and establish a strong foothold in the mature German market. Internationalisation is certainly in our thoughts.

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Q: Can you give us insights into your features?

A: See press release, it contains two bullets with description of the monitoring and analytics features. Furthermore, we have released a monitoring software that is more user friendly with easy navigation and quick pinpointing of asset issues. Our plan is to release first analytics capability such as smart alert features this summer.

Q: What is the biggest challenge you’ve faced in launching your business and how did you overcome it?

A: Onboarding our strategic investor Vattenfall. But we had a lot of support from FACTOR10, an experienced company builder, to help us through the first phase. The result is now there, the investment is secured and Vattenfall is now a very engaged strategic partner on our side.

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Q: What are your plans for the future?

A: First build a really good product, introduce AI-based solar analytics to the market, then scale. There are many options for future strategic directions, such as integration of energy storage, move towards B2C and international scaling, but we like to stick to our current focus: build a really good product that impresses our current customer base.

Last Updated on June 24, 2018

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