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Last year wind and solar energy overtook fossil fuels to provide 30% of the EU’s electricity. With that in the background, startups in the solar space have been riding a generational change in how we get our power. In 2022 we covered how a small B2C European startup planned to bring solar to homes via its “vertical solar panels” designed to be mounted onto chic European balconies. However, that strategy proved tough, and WeDoSolar is now pivoting into B2B after a minority share was acquired by Chinese solar giant Genbyte Tech. Terms of the deal were undisclosed. 

The publicly traded Genbyte, with factories in China and annual revenues of over $1.4 billion, enters a strategic partnership with WeDoSolar in its next iteration. The startup had previously counted New York’s VentureOut and Germany’s Leanox Impact Capital as early-stage backers.

Genbyte Tech typically produces microinverters, energy storage systems, and smart grid solutions. It will now provide infrastructure and technical expertise to WeDoSolar to scale up its operations and enter new markets.

WeDoSolar was founded in 2021 by Karolina Attspodina (pictured above), a Ukrainian-born serial entrepreneur and Qian Qin, a hardware engineer, serial entrepreneur, and a former managing director of BSH Digital Ventures GmbH. 

The startup previously introduced compact solutions to people’s homes, which were designed for self-installation, in a plug-and-play manner.

“The decision to pivot to a B2B model represents a natural evolution for the company as we saw cheaper, and not so safe, products had started to flood the market. It became impossible for clients to see and understand the difference,” Attspodina, CEO and co-founder of WeDoSolar told TechCrunch. She is now stepping down from her role, but plans to remain involved with the company as a shareholder and a board member.

In her place, Qin will take on the role of WeDoSolar CEO. Using Genbyte’s capabilities, WeDoSolar will now cater to resellers, property developers, and commercial enterprises, delivering solar panels that suit their projects. 

“We needed to pivot to a B2B model but we needed a strong partner behind us, and this was the best solution. We as founders will retain a majority stake, and there will be a new team built out under Qin,” Attspodina added.

As for her, she told TechCrunch, “I am now looking to enter the Dual-Use / Defense sector in the near future. But in the meantime, I’m helping other founders with fundraising and other projects.”

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