Berlin-based technology company Terra One, a pioneer in the field of grid-connected large-scale battery storage in Europe, has received EUR 7 million in seed funding from a renowned consortium of investors. The financing round is led by PT1, the early-stage VC for real asset technologies, with the support of neosfer, the early-stage investor of Commerzbank. In addition, 468 Capital, the DeepTech investor of former Rocket Internet CEO Alexander Kudlich, N26 co-founder Maximilian Tayenthal, serial entrepreneur Jan Beckers and the scout funds of Andreessen Horowitz and Hedosophia also participated in the financing round.

PT1 welcomes another large investor, the construction group BESIX. Founded over a century ago in Belgium, BESIX Group has become an internationally active multidisciplinary company with a leading position in construction, property development and concessions, with a yearly turnover of 3.4 billion euros (2022).

After PT1 – PropTech1 Ventures successfully completed the first closing of its second fund at 44 million euros this January, the independent venture capital platform for transformative real estate technologies has now started operations by making its first three investments in the startups Voltfang, Ontik and Climate X.