Largely due to age, European houses are notoriously difficult to heat. Most were built for an era when people were not as knowledgeable about energy consumption as they are today. As energy becomes more expensive and energy security becomes a geopolitical issue, there has been an explosion of tech startups focused on the issue. What we need is an easy way for consumers to engage with how much energy their homes need, how to manage it, and most importantly, how to finance the changes needed.
An example in New York is seal, a climate technology company that designs, manages and finances household climate change and electrification projects.also recently purchase Sensor startup InfiSense powers its energy-saving service.
In Germany, a similar startup is “Enter” (formerly Baupal), has raised a €19.4 million Series A round led by Target Global. The round also included venture capital firms Coatue, Foundational, A/O Proptech and Partech.
Homeowners complete a digital survey and then get an assessment of their building’s energy condition, along with recommendations on how to reduce spending. It also takes care of the appropriate renovation subsidy application.
Justus Menten, co-founder and managing director of Enter, says traditional energy assessments are too slow: “Currently, about 200,000 properties in Germany are renovated every year. But to achieve our climate goals, it has to exceed one million. Today of certified energy efficiency consultants cannot achieve this in the traditional way. Although the training of new consultants is already running at full speed, it will take several years before Germany has sufficient capacity. This is where Enter comes into play,” he said in a statement said in.
Enter claims that 75% of homeowners are concerned they can’t afford energy-efficient renovations and therefore offer this as part of their service.
In addition to VCs, Enter has business angels and advisors including Oliver Merkel, McMakler co-founders Hanno Heintzenberg and Lukas Pieczonka, taxfix COO Dr Daniel Kreter, Medwing founder Johannes Roggendorf and DST Global co-founder Tom Stafford.
On the phone, co-founder and managing director Max Schroeren told me: “We end up with 250 data points and we only have to ask eight or nine questions. … and then we do site visits with our own energy consultants to validate the data and add more and more data points. So in the end, the homeowner has a digital twin of the building and a better understanding of how to improve the home. “
Dr. Ricardo Schaefer, Partner at Target Global, said: “Ensuring that our use of energy is both efficient and sustainable has become a major consideration for many people around the world. Through ENTER’s unique technology, homeowners are able to identify the full energy potential of their home and energy-efficient home improvements at their fingertips.”
Sarah Cannon, General Partner and Head of European Private Investments at Coatue, said: “As Europe accelerates its transition to energy sovereignty, consumers need practical solutions to navigate this transition. Enter’s unique home energy intelligence platform puts consumers in direct control their energy footprint and take effective steps to improve home energy efficiency and reduce climate impact.”
