Funding round
Enpal Growth
Reported as "Growth Equity"
Enpal, which works in solar energy solutions in Berlin, raised $120M in a Growth round announced on 7 Apr 2025, led by TPG. 4 firms took part, 2 of them already investors. It is Enpal's third venture round on record; the one before was a Series D in Jan 2023.
$120M
Amount raised
110,000,000 EUR converted
Not disclosed
Post-money valuation
4
Investors
1 lead
Valuation
What this round says about the price
Enpal did not disclose a valuation in this round; its last disclosed one was $2.35B at the Series D (Jan 2023). It came 27 months after Enpal's Series D. It is 23% of the $524M Enpal has raised in the venture rounds on record. No later venture round is on record for Enpal.
Enpal's funding rounds
Enpal has 3 venture rounds on record and 3 other deals. This one is highlighted.
Investors
Who put money in
TPG led the round with 3 other firms. TPG and Ontario Power Generation Pension Fund (OPG) had backed Enpal before.
Lead investor
- TPG backs 114 venture-backed companies existing investor
Also in the round
- backs 22 venture-backed companies new investor
- Ontario Power Generation Pension Fund (OPG) existing investor
- leading European insurance group new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
27 Growth rounds in Solar Energy Company within a year either side disclosed an amount; the median was $100M, and this round was 1.2 times the median. The closest in time, other companies' Growth rounds in Solar Energy Company:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Solar Energy Company | 16 Apr 2025 | $85M | not disclosed | not named |
| Solar Energy Company | 26 Mar 2025 | $50M | not disclosed | Siemens Financial Services |
| Origis Energy Solar Energy Company | 15 Jan 2025 | $1.00B | not disclosed | not named |
| 38 Degrees North Solar Energy Company | 17 Jul 2025 | $230M | not disclosed | not named |
| Solar Energy Company | 17 Jul 2025 | $93M | not disclosed | Copenhagen Infrastructure Partners |
| Solar Energy Company | 1 Jul 2025 | $29M | not disclosed | Bpifrance and IDIA Capital Investissement |
| Solar Landscape Solar Energy Company | 9 Dec 2024 | $184M | not disclosed | not named |
| 1KOMMA5° Solar Energy Company | 20 Dec 2024 | $156M | not disclosed | CalSTRS and G2 Venture Partners |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Enpal raise in its Growth round?
Enpal raised $120M in its Growth round, announced in Apr 2025.
Who led Enpal's Growth round?
TPG led it, with The Westly Group, Ontario Power Generation Pension Fund (OPG) and leading European insurance group.
What was Enpal's valuation at the Growth round?
It was not disclosed; its last disclosed one was $2.35B at the Series D (Jan 2023).
How does it compare with other Growth rounds in Solar Energy Company?
27 Growth rounds in Solar Energy Company within a year either side disclosed an amount; the median was $100M, and this round was 1.2 times the median.