ecoworks closes financing round with 22 million euros

The company ecoworks has closed a successful financing round with a volume of 22 million euros. As an innovation leader in serial climate-neutral refurbishment, ecoworks plans to use the capital to optimize its technology and reach break-even by the end of 2024.

Berlin - ecoworks successfully closes a financing round with a volume of 22 million euros. The company is considered an innovator in serial climate-neutral refurbishment. Investors include well-known venture capital funds such as PT1 - PropTech1 Ventures, Zacua Ventures and Blackhorn Ventures, as well as renowned industry experts such as Warema Group, ALP.X Group, the owners of Huf Group and Sabancı Building Solutions.

This round will allow us to reach break-even. Profitability is crucial to build a leading stakeholder in the renovation sector"

Emanuel Heisenberg, CEO ecoworks

The EU is planning renovation quotas, which is driving investors to invest in rapidly scalable solutions for the growing renovation needs. According to Nikolas Samios, Managing Partner of PT1 - PropTech1 Ventures, high-level experts from the U.S. and Europe share ecoworks' belief that demand for serial renovation will increase dramatically and the company is well positioned to capture a relevant market share.

In the coming years, at least 10 million residential units in multi-family buildings in Germany in need of major renovation will have to be refurbished, with an estimated volume of up to one trillion euros. The financing round will enable ecoworks to reach break-even. CEO Emanuel Heisenberg emphasizes the importance of profitability to become a leader in the renovation sector. The company will focus on delivery, product cost reduction and further development of their software platform.

Growth market of climate-neutral renovation solutions

ecoworks develops end-to-end software and prefabricated elements to create attractive and climate-neutral living space in multi-family buildings with high renovation needs in a short time. ecoworks offers modular, climate-neutral renovation solutions for the housing industry. The Berlin-based company plans, designs and installs façade and roof elements to renovate multifamily buildings to a net-zero standard in just a few weeks. This helps to reduce emissions in the building sector and dependence on fossil raw materials.

The market for climate-neutral renovation solutions is set to grow strongly as a result of European legislative initiatives and rising energy and CO2 prices. There are about 45 million homes in Europe that are in buildings with the worst energy classes and will be burdened by mandatory high CO2 prices from 2027.