Eltex, founded in Spain in 2021 by Charles Deknudt, has closed a €1.8 million funding round led by Vireo Ventures, alongside kopa ventures. The company has developed a comprehensive platform for residential electrification, covering the entire process: customer acquisition and qualification, technical assessment, pricing, financing, logistics, and a network of certified installers. This standardized approach enables the scalable deployment of solutions such as heat pumps, solar panels, batteries, and electric vehicle charging points in private homes.
The European residential market is undergoing a major transformation but remains fragmented. Homeowners face long timelines and unclear pricing, while installers struggle with sales, coordination, and administration. Eltex addresses these challenges by managing the entire customer journey and coordinating independent installers through a single operating platform.
In just three years, Eltex has grown its revenues more than 20-fold, reaching several million euros. With the new funding, the company will invest in its technology platform, strengthen operations, expand its certified installer network in Spain and Italy, and prepare for further European expansion.
Charles Deknudt, founder of Eltex, stated: “Our goal is to simplify and accelerate home electrification. This investment will allow us to improve installation efficiency and ensure a quality standard that sets a new benchmark in the European market.”
Vireo Ventures and kopa ventures expressed their enthusiasm for supporting Eltex in building the next layer of infrastructure for residential electrification in Southern Europe, establishing the company as a key player in the energy transition.
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