Wayra Hispam invests in solar energy startup Solfium

Wayra's investment in Solfium is part of the startup's pre-Series A round. Together with its seed round, it has raised US$4.2M with participation from prominent international funds such as Katapult VC (Norway), Propulia Capital (Canada), RaliCap (United States), Redwood Ventures (Mexico) and Savia Ventures (Chile). The funds raised will allow Solfium to accelerate its investment in technology, consolidate its leadership in Mexico, and prepare for its future expansion into new Latin American markets, strengthening its commitment to sustainability and the transition to clean energy sources in the region

Wayra Hispam, Telefónica Movistar's open innovation and Corporate Venture Capital division, announces its latest investment in Solfium, the startup transforming access to solar energy. With this strategic investment, Wayra reinforces its commitment to driving sustainable technology solutions that promote the energy transition and address today's environmental challenges.

Solfium is a leading startup in the solar energy sector that, thanks to its innovative platform, drives the transition to clean energy and the decarbonization of large corporations' value chains. A Canadian company, it currently operates in Mexico, its launch market, where it has developed a portfolio of world-class clients, including Coca-Cola, Scotiabank, Santander, Michelin and Mabe, which it has supported in decarbonizing their value chains. It also works actively with the state governments of Nuevo León, Querétaro, Puebla, Michoacán and other states to promote the transition to cleaner, more sustainable energy.

Solfium has a unique technology model that drives the widespread adoption of solar energy by large corporations. Its platform facilitates value chain decarbonization through the efficient deployment of solar energy and complementary technologies, such as batteries and chargers, integrating with the company's suppliers, distributors and assets.

One of the main challenges facing large corporations today is meeting the expectations of their stakeholders, who demand clear roadmaps and concrete action plans to achieve the goal of Net Zero. The most complex challenge lies in reducing emissions from their vast and fragmented value chains, which comprise thousands of suppliers, distributors and other stakeholders. In this context, Solfium is emerging as a key player because its technology model, unique in the solar energy sector, enables value chain decarbonization to be deployed, measured and reported efficiently and at scale—something traditional solar energy companies have not managed to implement.

Andrés Friedman, Solfium's CEO, says: “We are very excited to have Wayra as an investor in Solfium and to be part of its portfolio of leading technology companies in their respective sectors. Wayra has established itself as a key driver of the venture capital ecosystem in Mexico, Latin America and globally. In addition, having the backing of Telefónica Movistar, a leading technology company committed to sustainability, opens up tremendous opportunities for growth and international expansion.”

For his part, Fabricio Zabala —Wayra Hispam Portfolio Manager—says: “We are thrilled to add Solfium to the Wayra Hispam portfolio. The company is revolutionizing access to solar energy with a unique approach. This investment reinforces our commitment to the energy transition. We are convinced that its transformative model will have a positive, scalable impact on decarbonization and on building a more sustainable future.”

About Wayra

Wayra is Telefónica Movistar's Corporate Venture Capital and open innovation division. Through it, the company invests in startups with the ability to bring innovation to Telefónica Movistar and provides innovation services to third parties, helping them take their open innovation initiatives to the next level. With a global presence, it operates in Europe (Spain—Madrid and Barcelona—the United Kingdom and Germany) and Latin America (Argentina, Brazil, Chile, Colombia, Mexico and Peru). Through its funds, it is also present in Silicon Valley and Israel.

About Solfium

Solfium has a unique technology model that drives the widespread adoption of solar energy by large corporations. Its platform facilitates value chain decarbonization through the efficient deployment of solar energy and complementary technologies, such as batteries and chargers, integrating suppliers, distributors, employees, and the company's own factories and offices.