syte - around five million euros for PropTech start-up

syte closes seed financing round of five million euros and accelerates the digitalization and decarbonization of the real estate industry

Münster, September 26, 2024 - PropTech startup syte, winner of the German AI Award 2023 in the "Startup" category, has successfully raised around five million euros in a seed financing round. The new funding will help syte continue its mission to further digitize the real estate industry through an AI-based data platform and B2B SaaS solutions while reducing the industry's carbon footprint.

Investors support syte

The round was led by the companies of the Schwarz Group. Other new investors include the investment company Vantage Value and CVC vent.io, while existing investors, including High-Tech Gründerfonds (HTGF), PropTech series founder Moritz Luck and real estate entrepreneur Fabian Axthelm, also participated. With this financing, syte has gained strong partners who will support the start-up's growth with their networks and expertise in the real estate and technology sector.

AI-based innovations for the real estate industry

syte already offers a comprehensive solution for banks, estate agents, project developers, planners and authorities. The platform analyzes the development potential of land and buildings in real time and helps with decision-making, e.g. in renovation planning or the identification of construction potential. The new syte Renovate feature makes it possible to calculate renovation scenarios and make optimized decisions in terms of sustainability, energy efficiency and costs.

The investment is an important step in expanding our development capacities and opening up new markets. With the support of our investors, we will continue to develop our platform and provide our customers with comprehensive support in the refurbishment and digitalization of their real estate portfolios.

Matthias Zühlke, founder and CEO of syte

Funding for the "ENERsyte" project

In addition to the seed round, syte secured 800,000 euros from the "Grüne Gründungen.NRW" competition for the ENERsyte project. The aim of the project is to accelerate municipal heat planning and improve the energy assessment of existing buildings. Münster University of Applied Sciences and RWTH Aachen University are also involved in the project.