The French start-up Inicio, a company specializing in the identification and development of land suitable for photovoltaic projects, has announced a €4 million Series A funding round. The round is led by EDF Pulse Ventures, alongside existing investors such as ISAI and CapHorn Invest. Joffe & Associés (Thomas Saltiel, Charlotte Viandaz & Alexia Guyot) acted as legal advisors to EDF Pulse Ventures and ISAI for this transaction.
This transaction marks a new milestone in Inicio’s development, as the company aims to accelerate its growth across Europe while strengthening its land assessment technology. With over 11,000 hectares analyzed, Inicio has refined its model by securing exclusive commercialization management agreements with landowners, rather than purchasing the land outright. This approach now enables the company to support over 400 MW of projects currently under development, representing several million euros in secured future revenues. Its platform, which includes SaaS modules for regulatory analysis and grid connection risk assessment, serves as a strategic lever to improve project conversion rates—currently five times higher than the industry average.
“This investment marks a key milestone for Inicio and will support our continued expansion across Europe. The joint participation of our longstanding investors and major industry players reflects their renewed confidence in our company and the unique value of our solution” said Thomas Moulla, CEO of Inicio, in EDF’s official press release.
Already established in Italy, Inicio plans to expand its operations to the United Kingdom, Germany, and Eastern Europe, with a focus on Poland. With a target of launching 500 MW of projects per country each year, the company aims to reach 1 GW of operational photovoltaic projects by 2030. This funding round will also accelerate the monetization of its software tools, which could eventually account for up to 20% of its revenue. With the strengthened support of its financial partners, Inicio aims to position itself as a key player in Europe’s energy transition.