Norwegian Startup Glint Solar Raises $8 Million To Accelerate Solar Energy Adoption In Europe

The Norwegian startup Glint Solar raised $8 million in a Series A round to expand into more regions in Europe and develop its software.

According to Tech Crunch, Glint Solar had previously closed a $3 million deal in June during a seed round. After the initial investment, the customer base grew 10 times its original size. The recent round was led by London’s Smedvig Ventures.

The future’s bright for Glint Solar! We’ve just secured an $8M funding round led by London’s Smedvig Ventures and with participation from Momentum, Futurum Ventures, and Antler!

Read more in TechCrunch’s latest article: https://t.co/3Zp5Vx1Zo0#renewableenergy pic.twitter.com/yLdJgM0ePE

— Glint Solar (@GlintSolar) November 7, 2024

The startup, founded in 2020, developed software that helps its clients identify, analyze, and build optimal solar installations, integrating Geographic Information System (GIS) data.

“Through effective use of technology and research collaboration, we can deliver high-precision insight into user-friendly software for the development team,” states the Software-as-a-Service (SaaS) company on its website.

Glint Solar is currently working with solar developers from large companies like Recurrent Energy, E.ON, and Statkraft to optimize processes. The company’s focus is on large-scale installations, for utility, and not residential or rooftops.

The startup’s current customers are in the UK, France, Germany, and the Nordic countries. Harald Olderheim, Glint Solar’s CEO and co-founder, explained to Tech Crunch that, with the new funding, they expect to expand to more countries like Spain and Italy.

Olderheim added that they are also optimizing its software and including services like battery integrations. One of the challenges in the industry is the time it takes for permits, delivery, and deployment, and they are working on reducing this time

“We are making it very user-friendly so everyone in a team can use one software together and work on this problem to make [project delivery] much faster,” said Olderheim. “And you can share everything — with the land owner, with the grid, with the municipality — so they can easily take decisions much faster with the lower risk.”

Robinhood’s co-founder Baiju Bhatt recently launched a new space-based startup called Aetherflux to “commercialize space solar power.”