The German climate-tech startup Ecoworks recently secured a significant €40 million funding. This round, led by World Fund, included Haniel, KOMPAS VC, and ISAI. It’s the third-largest construction tech (contech) funding in Europe. “The financing round was almost three times oversubscribed,” noted Emanuel Heisenberg, founder of Ecoworks. Heisenberg, with 16 years in climate tech, has previously consulted for the German parliament. His focus is now on decarbonising German building stock.
Daria Saharova, Managing Partner at World Fund, highlighted the urgency in building renovation. “Almost 75% of buildings in Europe are energy inefficient,” she said. The investment reflects the growing demand for sustainable construction solutions.
Green revolution in retrofitting technology
Ecoworks is addressing the challenge posed by inefficient European buildings. Nearly 75% are considered energy inefficient, with a renovation rate below 1%. The startup specializes in retrofitting buildings with energy-efficient skins. This approach is crucial as 50% of residential units in Europe have low energy performance ratings.
Heisenberg shared Ecoworks’ ambitious goals. “We aim to reduce greenhouse gas emissions by more than 1 gigaton CO₂ by 2045,” he stated. The company, having raised around €50M since its inception, is focusing on optimizing its technology. It combines AI-supported digital planning with efficient building elements.
Future expansion & innovation plans
Ecoworks’ immediate focus is on the German market, estimated at €250 billion annually in renovations. Heisenberg envisions international expansion post-2025. The funding will advance software and hardware development. The goal is to reduce costs by 30% in 12 to 18 months. Ecoworks also plans to reach break-even within the same period.
With around 120 to 130 team members, 40% of whom are women, Ecoworks stands out in the construction industry. “With our order book and increasing margins, Ecoworks has the potential to become a European tech leader,” adds Heisenberg.
The company has demonstrated its ability to retrofit apartment blocks, potentially doubling their value. Its facade elements integrate windows, insulation, and building services. This makes the retrofitting process both efficient and impactful.
Ecoworks’ story is part of a larger narrative in German climate tech. Earlier, a startup received €3.2M to extract carbon dioxide from the atmosphere. Another helps agri-food companies reduce greenhouse gas emissions. Ecoworks contributes similarly but in a distinct sector. Philipp Göhre, Growth Partner at Haniel, expressed delight in supporting Ecoworks. “We are delighted to be part of Ecoworks’ journey,” he said, emphasizing the shared goal of reducing emissions.
—
Get in touch with one of the PL Talents’ experts – we are the number one tech recruitment specialist in Germany.