Berlin, Germany-based global leader for climate-neutral renovation, ecoworks raised EUR 40 million in funding. The round took place on December 14, 2023. World Fund led the financing for the company. Meanwhile, the round also saw participation from Haniel, KOMPAS VC, and ISAI.
Purpose of financing for ecoworks
With the latest financing, the company seeks to further tech optimization. It also has plans to fund growth in Europe, spanning the residential, industrial as well as commercial sectors.
What the company’s official has to comment
Emanuel Heisenberg, founder of ecoworks, said, “The financing round was almost three times oversubscribed. This shows the enormous interest in solutions for the upcoming European renovation wave. With our order book and increasing margins, ecoworks has the potential to become a European tech leader in the construction market.”
What the investors have to comment
World Fund only invests in startups promising the greatest climate performance potential. The company led the financing because of the carbon savings that can be achieved through retrofitting. Ecoworks aims to reduce GHG emissions by over one gigatons of CO2 by 2045.
Daria Saharova, Managing Partner at World Fund, further said, “Almost 75% of buildings in Europe are considered energy inefficient. Currently, the renovation rate is less than 1%. ecoworks is a retrofitting tech leader that is primed to benefit from regulatory demands for renovation of existing buildings and increasing capital for reducing carbon emissions in the sector”.
In addition, Philipp Göhre, Growth Partner at Haniel, said, “As a pioneer and market leader in the field of climate-friendly serial renovation, ecoworks fits perfectly into Haniel’s mission statement “enkelfähig”, under which we build sustainable and successful business models. We are delighted to be part of Ecoworks’ journey. We seek to support Emanuel Heisenberg’s team in their goal to reduce greenhouse gas emissions by a total of more than one gigaton of CO₂ by 2045.”
Besides, Andreas Winter-Extra, Partner at KOMPAS VC, commented, “Our investment in ecoworks reflects our unwavering commitment to creating a sustainable, efficient and resilient built environment. Currently, Europe faces the challenge of an ageing building stock not able to cope with the rapidly changing climate. Ecoworks is in a unique place to meet the growing demand for climate-neutral refurbishments through its transformative technology — and is spearheading efforts to facilitate sustainable and cost-effective renovation of buildings across Europe. By investing in advanced technologies and embracing sustainable practices, we firmly believe that we can address the challenges of climate change and an ageing housing stock head-on.”
About the company
Emanuel Heisenberg & Kristofer Fichtner launched the company in 2019. The company is on a mission to reduce built environment CO2 emissions by offering renovation and retrofitting with an energy-efficient building skin.
To explore more such startups, visit Zefyron Startup Database
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
