The company, which is headquartered in Muenster, Germany, was founded in 2010 by serial entrepreneur Sebastian Kotzwander. The business offers consumers energy and resource-saving products as well as software as a service technology to utility companies.
The investment was made via the firm's Mountain Cleantech Fund II (MCF II) vehicle.
Mountain Cleantech´s managing partner Alexander von Hutten will join Gruenspar´s supervisory board as part of the deal.
He said, 'The Gruenspar team has convinced us from the onset of our discussions with their creativity, determination and expertise. Great commercial acumen has enabled Gruenspar to seize the window of opportunity in establishing relationships with more than 50 leading utility companies to jointly develop tailored energy efficiency shops for their customers.
'We believe that the business model has significant potential for domestic and international growth as Gruenspar helps consumers to mitigate the impact of constantly rising utility prices.'
Mountain Cleantech was founded in 2007 and is headquartered in Zurich, Switzerland with additional offices in Austria, Germany and Sweden.
It focuses on growth equity cleantech investments in the German-speaking and Nordic regions. Investments include Geppert, reBuy reCommerce, SiC Processing and Sinosol.