Ecoworks Secures €40 Million in Series A Funding for Climate-Neutral Building Renovations
Ecoworks, a pioneering company in climate-neutral building renovations, has successfully raised €40 million in one of the largest Series A rounds within the global construction technology sector. This recent funding round, led by World Fund and featuring prominent investors such as Haniel, KOMPAS VC, and ISAI, brings the total investment in the company to over €82 million.
Modular Solutions for Climate-Neutral Renovations
Ecoworks specializes in cutting-edge building technology for carbon-neutral renovations across Europe. Leveraging artificial intelligence (AI)-supported digital planning, the company constructs and assembles prefabricated facade and roof elements with integrated windows, insulation, and building technology. This innovative approach allows the conversion of apartment buildings to a NetZero standard within a few weeks.
Strategic Approach to Addressing Climate Challenges
Daria Saharova, Managing Partner at World Fund, emphasized the unique contribution of ecoworks to the energy transition debate, highlighting the often-overlooked role of buildings. The company’s technology streamlines construction efforts, enabling serial and swift renovations. With immense potential for CO2 savings, investors are confident in ecoworks’ ability to deliver scalable solutions to meet the growing demand for renovations in the residential, industrial, and commercial sectors.
Ambitious Greenhouse Gas Reduction Goals
Ecoworks has set a bold target of reducing greenhouse gas emissions by over 1 gigaton of CO2 by 2045. Approximately 50% of Europe’s 315 million residential units possess an energy efficiency class of E or worse. Meeting the need for renovating these buildings by 2030 will require investments totaling trillions of euros in the EU alone.
Investor Perspectives
Andreas Winter-Extra, Partner at KOMPAS VC, expressed the firm’s commitment to supporting a sustainable, efficient, and resilient building sector. Europe faces the challenge of an ageing building stock ill-equipped for rapid climate change, making ecoworks uniquely positioned to address the demand for carbon-neutral renovations.
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