ecoworks closes financing round with 22 million euros

The company ecoworks has completed 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 the Warema Group, ALP.X Group, the owners of the 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 refurbishment sector"

Emanuel Heisenberg, CEO ecoworks

The EU is planning renovation quotas, which is encouraging investors to invest in quickly scalable solutions for the growing need for renovation. According to Nikolas Samios, Managing Partner of PT1 - PropTech1 Ventures, senior experts from the US and Europe share ecoworks' belief that the demand for serial refurbishment 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 will need to be renovated, 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 in order to take a leading role in the refurbishment sector. The company will focus on delivery, cost reduction of the product and further development of its software platform.

Growth market climate-neutral refurbishment solutions

ecoworks develops end-to-end software and prefabricated elements to create attractive and climate-neutral living space in apartment buildings with a high need for refurbishment in a short space of time. ecoworks offers modular, climate-neutral refurbishment solutions for the housing industry. The Berlin-based company plans, designs and installs façade and roof elements to refurbish apartment buildings to a net-zero standard within just a few weeks. This helps to reduce emissions in the building sector and dependence on fossil fuels.

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