Hycube, a Germany-based renewable energy storage solution, has successfully secured more than €1.2 million in funding through its equity crowdfunding campaign on Seedrs. The company launched the funding round earlier this month and quickly surpassed its €1 million funding target and has so far attracted over 600 Seedrs investors.
As previously reported, Hycube was notably created to build world-class energy storage systems by taking energy from solar panels and storing it for later use in homes or businesses.
“You can store cheap clean energy during the day, and use it at night, or whenever you need it. It also means you have electricity if there is a power cut in your area, which is important for developing countries. Whilst some storage products are very basic, our products have high levels of home integration, expandability and intelligence that separate us from the competition, including major brands like Tesla.”
Hycube’s products are said to provide a “simple” to install, all-in-one housing that enables the addition and removal of batteries. A user interface, on the unit/through mobile/ MyHycube.com. A power failover mechanism and a Home Energy Management System that can interface with electric vehicles, sockets, heating and intelligently prioritize their use.
Funds from the Seedrs campaign will be used for the following:
- Create new distributor relationships, improve digital presence, be present at trade shows, increase sales staff
- For supply chain efficiency and new partner deals
- Build intelligent VPP platform and establish Hycube as a energy provider in its own right
- Continue product innovations, particularly home automation, process automation, and hardware improvements
Hycube is offering 5.27% in equity with a €17,999,895 pre-money valuation through the campaign, which is set to close at the end of February.
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