Changers Raises $1.5 Million in Series A Financing

January 28, 2014 by Jeff Shepard

Changers GmbH, the company that motivates people to transform their energy behavior, has closed $1.5 million in Series A financing. BFB Frühphasenfonds Brandenburg GmbH led the round, with participation from Heliocentris Energy Solutions AG and additional private investors. Berlin-based investment firm bmp Beteiligungsmanagement AG manages the BFB fund.

The funding from Frühphasenfonds Brandenburg (a government-backed German development fund that focuses on early-stage companies located in the state of Brandenburg) and the strategic collaboration of industry partner Heliocentris (a specialist in clean energy and energy-efficiency solutions) enables Changers to accelerate its product development plans, strengthen its presence in the growing 'connected home' industry, and take advantage of consumers' rising interest in energy independence and sustainability.

"The market success of Nest and its acquisition by Google underscores the trend that consumers are increasingly eager to adopt technology that helps them save energy and understand their impact on the environment," said Oliver Borrmann, CEO of bmp. "We see huge potential for Changers as it combines rewards for energy-saving behavior with a proven community based on a gamified customer loyalty system."

"The Changers concept of connecting renewable energy production with the power of social networks is a radical new way of viewing decentralized energy production and a glimpse of what is possible in the future," said Dr. András Gosztonyi, CFO of Heliocentris Energy Solutions AG.

"We believe the timing is perfect to take Changers into new markets, build on our patented technology, and attract more consumers to participate in our fun and rewarding system," said Markus Schulz, co-founder and CEO of Changers. "So we are very pleased to welcome these two key investors. Frühphasenfonds Brandenburg has deep experience in accelerating startups, while Heliocentris can provide guidance on manufacturing and distribution, and will be instrumental in our expansion to the Middle East. We were also very fortunate to bring three additional angel investors with backgrounds in renewable energy and ecommerce into this round."

Changers is known for the Changers System, a Social Energy Marketplace that enables people to produce their own energy, measure how much they produce, and convert it into a currency that can be used to buy sustainable goods and services from Changers' commercial partners. The company markets the Changers Starter Kit, comprising a portable PV solar panel and a portable solar battery that accurately measures how much energy it captures and stores. Thousands of people around the world use Changers to capture renewable energy and charge their handheld devices.