🏆 Deal of the Week · CW 43/2024
Terralayr raised EUR 77 million in a venture round of undisclosed series; the valuation was not disclosed. The round was backed by a syndicate of five European investors including Creandum, Earlybird Venture Capital, Norrsken VC, Picus Capital, and Rive Private Investment. The deal was recognised as Deal of the Week for KW 43/2024.
Terralayr — key deal facts
| Company | Terralayr |
| Founded | 2022 |
| Headquarters | Zug, Switzerland |
| Amount raised | EUR 77m |
| Valuation | Valuation Remains Undisclosed |
| Round | Venture – Series Unknown |
| Investors | Creandum, Earlybird Venture Capital, Norrsken VC, Picus Capital, Rive Private Investment |
| Sectors | Renewable Energy |
Who invested in Terralayr?
The round was jointly supported by Creandum, Earlybird Venture Capital, Norrsken VC, Picus Capital, and Rive Private Investment. The syndicate combines specialist climate and deep-tech venture firms with growth-stage generalists, reflecting broad conviction across both the infrastructure and software dimensions of Terralayr's business model. No single lead investor has been publicly disclosed.
What does Terralayr do?
Terralayr develops, owns, and operates utility-scale battery energy storage systems (BESS) and commercialises energy flexibility through its proprietary LAYR platform, which aggregates and virtualises battery capacity for on-demand trading by utilities, grid operators, and data centres. The LAYR platform functions as a cloud-like abstraction layer over physical grid-scale assets, enabling flexible capacity to be traded without the counterparty needing to own the underlying hardware. The company was founded in 2022 by Philipp Man and is headquartered in Zug, Switzerland, with additional operations in Berlin, Germany. Terralayr has secured over 5 GW of development pipeline in Germany and currently operates multiple BESS assets.
Terralayr valuation & multiples
No existing multiples analysis was provided for this deal. Once comparable transaction data becomes available, valuation benchmarking for Terralayr would typically reference EV/Sales and EV/EBITDA ranges observed across utility-scale energy storage and energy-flexibility-as-a-service peers. Readers can explore relevant benchmark ranges on our Renewable Energy sector multiples pages.
Frequently asked questions
How much did Terralayr raise in its Venture – Series Unknown?
Terralayr raised EUR 77 million in a venture round of undisclosed series, recognised in KW 43/2024.
What is Terralayr's valuation?
Terralayr's valuation was not disclosed as part of this funding round.
Who invested in Terralayr?
Terralayr's round was backed by Creandum, Earlybird Venture Capital, Norrsken VC, Picus Capital, and Rive Private Investment.
When was Terralayr founded and where is it based?
Terralayr was founded in 2022 and is headquartered in Zug, Switzerland, with additional operations in Berlin, Germany.
Source: original announcement — read the full report.