ecoworks Closes Series A Financing Round with Support from VOY
VOY has advised ecoworks in the second closing of their 40 Million EUR Series A Financing Round.
Berlin-based start-up ecoworks, the global leader for serial climate-neutral renovation, has successfully closed its Series A Financing Round. At a total of 40 million EUR, the financing round represents one of the largest Series A rounds in the construction technology sector to date.
The international consortium of investors was led by World Fund, a leading European Climate Tech venture capital fund, and joined by Haniel, KOMPAS VC and ISAI.
ecoworks was advised in the financing round by a VOY team including Kristian Lutz and Johannes Steinacher (all Venture Capital / Corporate), as well as Markus Thiel and Norman Sadlo (Tax). Johannes Steinacher, who has a strong focus on green tech business modells, is proud of the growth story of ecoworks, whom he had already advised in their previous financing rounds.
Serial refurbishment is expected to become a pillar for the cost-efficient and accelerated energy turnaround in the building sector. ecoworks targets to reduce GHG emissions by over 1 gigaton CO2 by 2045. "The financing round was almost three times oversubscribed. This shows the enormous interest in solutions for the upcoming European renovation wave," says Emanuel Heisenberg, founder of ecoworks.
Around 50 Percent of the 315 million residential units in Europe have energy performance ratings of E or worse. Homes with a low performance will be particularly burdened by high energy prices, and more stringent global regulation of built environment emissions. They also increasingly lose value and become therefore stranded assets. Retrofitting these buildings requires multi-trillion investments in the EU alone until 2030.
About ecoworks
ecoworks provides modular, carbon neutral renovation solutions for the housing industry to shift the activities from the construction site to the factories. The company plans, designs, and installs prefabricated facade and roof elements to convert inefficient apartment buildings to a NetZero standard within a few weeks. ecoworks is considered one of the world’s most innovative providers of climate tech in the building sector.
About VOY
VOY is a law firm and tax consultancy for founders and investors creating a digital client experience that focuses on adding value with direct and uncomplicated legal advice of the highest quality.
