DREM plans to pump up the volume of heat pumps in Europe with €2M investment

Swedish heat pump platform DREM has gone and bagged another €2 million as Peak has come up trumps with the fuel to fund a European expansion. 

Already hitting a sweet spot in the Swedish market as it heats up with the availability of a grant for homeowners who are looking to heat their homes with greener alternatives, DREM is providing digital pricing algorithms, virtual home visits, and a marketplace for installers to make the dream of affordable home heating happen. 

Now the startup, which was founded in 2022 by Babak Tighnavard, Hannes Palm, and David Sennerlöv, is making a break for the border as it sees potential in other heat-pump-lacking European countries.

"Financing at this stage is a significant boost for DREM. We are digitising and streamlining installations at a time when people are seeking alternatives to natural gas and electricity, as prices are on the rise, and at the same time want to take responsibility for the environment and their energy consumption. In Sweden, the number of installed heat pumps per household is around 50%, while in the rest of Europe, the number is below 10%. A reason why both we and our investors see great potential in expanding DREM beyond Sweden's borders," says Babak Tighnavard, CEO and co-founder of DREM. 

"The DREM platform streamlines the industry so that installers can focus on performing the actual work of installing rather than having to spend time on acquiring customers and marketing themselves. The potential for the European market is enormous, as DREM's model balances the shortage of installers and facilitates households' transition," says Indra Sharma, Partner at Peak.