Titan Grove

Jan 12, 2023

January 12, 2023 Australia-born US-based solar panel design and sales platform OpenSolar has raised US$15 million (A$22 million) in Series B. Telstra Ventures led the round announced last month, with support from sustainability fund 2150 and existing investors including Jeff Tannenbaum’s Titan Grove and solar entrepreneurs Alec Guettel and Howard Wenger. The money will be used to expand OpenSolar’s free software for solar contractors. The design and sales platform connects them to over 75 providers of hardware, finance and services and is used in over 130 countries. Cofounder and CEO Andrew “Birchi” Birch said OpenSolar’s total funding to date now stands at US$25 million. “We launched OpenSolar in Australia, the most advanced solar market in the world, where you pay a very low cost per watt and get your system up and running within one to three weeks,” he said. “With a leading position now in the Australian market, we have introduced that speed and efficiency to the rest of the world through our software.” Birch said OpenSolar is quickly becoming the number one choice for installers around the world. “OpenSolar’s mission is to achieve a world powered by sunlight by 2050. We’re assembling the largest team of technologists and customer experience experts in the solar software industry with the aim of helping contractors sell more solar – and we won’t stop until every compatible roof is on board to power the electrification revolution. generating clean energy,” he said. Their cofounder and CTO Adam Pryor said the platform now supports more than US$2.5 billion in annual system sales by contractors. “The world’s transition to solar power represents one of the largest wealth creation opportunities in history, and our commitment to helping local solar installers participate in that transformation is stronger than ever,” he added. “This funding allows us to double down on developing an ever-expanding set of software tools that drive their growth and profitability. We look forward to bringing greater levels of customization and new technology to help electrify homes and businesses. Looking forward to providing you with the capabilities. Pryor said OpenSolar has been independently verified by the US National Renewable Energy Laboratory as the world’s fastest and most accurate solar design tool. Albert Belinko, partner at Telstra Ventures, said they are “hugely impressed” with OpenSolar “The software significantly accelerates how installers can electrify the world. We are a firm believer in this unique business model that is free for installers and highly valuable for hardware and service providers,” he said. “OpenSolar’s customers are crazy fans who use their open platform to dramatically increase the number of installations they can do. It lets them achieve more with less. OpenSolar has a product driven growth momentum, a truly global footprint and an enjoyable user experience. The company has an experienced team of all stars with deep domain expertise who have shown that they can execute. The company now also plans to expand its global partnerships, earning fees in exchange for connecting solar contractors with the products and service providers they need to run and grow their businesses.