GRYD Energy raises £1M to roll out zero-cost solar subscriptions nationwide

GRYD Energy raises £1 million to expand its zero-cost solar subscription service. discover how the London-based startup’s innovative model removes upfront installation costs and helps UK homeowners switch to clean energy. Read more: GRYD Energy raises £1M to roll out zero-cost solar subscriptions nationwide

Jan 27, 2025 - 21:00

GRYD Energy raises £1M to roll out zero-cost solar subscriptions nationwide

GRYD Energy raises £1 million to expand its zero-cost solar subscription service. discover how the London-based startup’s innovative model removes upfront installation costs and helps UK homeowners switch to clean energy.

London-based solar tech startup GRYD Energy has secured £1 million in pre-seed funding to scale its subscription-based solar and battery systems across the UK.

Investors in the round include Black Seed VC, an early-stage fund dedicated to Black founders, and SFC Capital, a leading early-stage investor in disruptive British businesses.

GRYD’s groundbreaking “solar-as-a-service” approach removes the traditional cost barrier to installing solar panels by covering all hardware and maintenance costs for the 25-year lifespan of the system. It means developers save up to £10,000 in upfront expenditure per home, while homeowners simply pay an average monthly fee of around £65 for a four-bed property — a fixed price that includes comprehensive maintenance and insurance.

The subscription also unlocks immediate bill savings for users, helping more households adopt clean energy technology. GRYD estimates 8.5 million UK homes have rooftops suitable for solar but cannot afford the initial outlay.

The new funds will enable GRYD to expand partnerships with housing developers, registered providers, and local authorities across the country. The startup will also invest in sales, marketing, and additional key hires, plus explore AI enhancements for its software. Other notable backers include Oasthouse Ventures, led by Director Simon Turner (now joining GRYD’s board), and energy storage entrepreneur Richard Thwaites, founder of Penso Power.

Commenting on the industry potential, GRYD co-founder and CEO Mohamed Gaafar said: “The strength of our pre-seed round is a welcome start to the next phase of GRYD Energy’s journey as we prepare to scale our solar technology and service nationwide. We’re fortunate to have the backing of fantastic investors like Black Seed and SFC who share our sense of urgency to accelerate the UK’s clean energy transition. With around 250,000 new homes built each year, the untapped solar potential of our residential rooftops is immense, and the need to futureproof Britain’s housing stock has never been more pressing.”

As ministers debate solutions to boost residential solar uptake in line with the UK’s 2030 clean energy pledge, GRYD’s model offers a cost-effective, scalable blueprint for zero-carbon housing. The startup has already completed a three-home pilot project in Cornwall and signed an energy export deal with Good Energy, which will generate an additional revenue stream. The company aims to deploy its subscription service to hundreds of properties in 2025 and is targeting 30,000 new-build homes over the next three years.

Black Seed VC Founder & Managing Partner Karl Lokko praised GRYD’s long-term vision, stating: “Their vision for clean, accessible energy is matched by the experience, grit, and enthusiasm that’s impossible to ignore. We’re proud to stand alongside them as they turn ambition into impact.”

Adam Beveridge, Investment Associate at SFC Capital, added: “We’re excited to back GRYD Energy as they develop a smart solar system to empower homeowners to generate and share energy. The team won us over with their exceptional experience and passion, and we look forward to supporting them in accelerating the much-needed energy transition.”