Polish Energy tech landscape 🚀

The Polish startup ecosystem starts to gather more and more attention to the foreign press. Funds like Finch Capital, Rheingau Founders or Runa Capital enter our market and play a significant role in the biggest VC’s transactions in Poland. In terms of the energy sector, we see that Poland starts to play a major role in this industry, thanks to becoming an investment target of companies like NorthVolt and becoming a leader in the European’s e-car battery production. Combining these factors, we see a great potential in terms of investment opportunities in the energy tech companies — which already reflects in the number of startups developing currently their solution in this area.

According to a report prepared by PFR, in 2020 over 300 Polish companies received PLN 2.1 billion of investments. This is an increase of approximately 170% compared to 2019!
The most common areas of investment were:

• Healthcare — 25% of all investments
• Enterprise Software — 15%
• Fintech — 9%

The energy area was in 7th place in terms of the number of investments. This is interesting in the context of the numbers observed around the world — according to data provided by PWC, investments in the broadly understood climate tech increased from US $ 418 million per annum in 2013 to US $ 16.3 billion in 2019 — three times the growth rate of investment into AI over the same period. The European market alone attracted $ 7 billion in investments at that time. Nearly a quarter of climate tech deals (24%) included a corporate investor.

According to our research, there are over 100 companies related to energy technology in Poland, including:

• 38 companies from the Electromobility category
• 7 companies from the Energy Storage category
• 14 companies from the Energy Distribution category
• 19 companies from the Smart City & Sustainability category
• 23 companies from the Energy Production category

Today, we would like to present this data on the landscape of energy tech. You can also check the link to the full-size image.

Here or here you may find an Airtable or GoogleSpreadsheet with the full list of the companies.

As part of SEI (SpeedUp Energy Innovation), we are looking for companies with a ready product and revenues generated from the commercialization of the solution. We invest tickets at the level of EUR 0.5–1 million.

The energy tech area is the main sector on which we put emphasis in terms of investment. For this reason, we are pleased with the number of companies, as well as the diversification of individual categories within which they develop their solutions.

However, we are fully aware that there are still many energy tech companies on the Polish market that we have not included in our landscape. So if you run or work for a company that should be listed here, please let us know at energytech@speedupgroup.com.