Berlin-based ecoworks has raised €22 million in a Series A funding round to automate the design process for retrofitting housing stock, thereby reducing CO2 emmissions. The new capital is aimed at further developing the startup’s technologies as it looks forward to breaking even by the end of 2024.
The Series A round was provided by a consortium of investors including PropTech1 Ventures, Zacua Ventures and Blackhorn Ventures as well as Warema Group, ALP.X Group, the owners of the Huf Group, and the Sabanci Building Solutions.
Betting big on the retrofitting segment, ecoworks’ platform uses digital 3D planning and prefabrication to shift up to 80% of carbon-emitting activities from the construction site to factories. The company develops and designs façade and roof elements that can be built around the existing building as a second skin. According to the startup, it can retrofit an extremely energy-inefficient building to and energy-plus building within weeks.
“This round allows us to break even. Profitability is crucial to build a leading stakeholder in the rehabilitation sector,” said ecoworks CEO Emanuel Heisenberg. “Our main focus now is delivery, reducing the costs, and further development of our software platform.”