Purpose receives € 3.3 million from Speedinvest and Atlantic for decarbonizing the building sector to grow ongoing business

Purpose Green secures 3.3 million euros in financing to drive decarbonization of the building sector

Berlin – October 5: Purpose Green, a German climate technology company driving the decarbonization of the building sector, today announced a financing of 3.3 million euros, led by leading European early-stage investors Speedinvest and Atlantic Labs. The company will use the fresh capital to strengthen the team with ESG, climate, and construction experts, expand its presence in Germany, and continually develop its service and product offerings.

Massive investments in Europe's building sector

The window to achieve the climate target of the Paris Agreement of 1.5 degrees is closing. The building sector must act, as it is responsible for 40% of energy consumption and 36% of greenhouse gas emissions in Europe, according to the European Commission. In Germany, the building sector is one of the largest emitters of CO2. According to the European Commission, 240 million buildings in Europe are in need of renovation and do not meet regulatory standards. Recent estimates suggest that annual investments in the trillions are required for a successful European energy transition.

Lack of digitization, bureaucracy, and slow processes

The majority of owners do not have a comprehensive overview of the relevant energy data of their properties. At the same time, energy retrofit measures are usually costly, time-consuming, and associated with high bureaucratic hurdles. For both owners and property holders, the retrofitting of their buildings is a very complex process. Current market solutions are more focused on comprehensive refurbishment, which is economically viable in very few cases.

Purpose Green brings speed and clarity to energy-related construction and retrofit measures

For the decarbonization of the building sector to succeed, it requires holistic offerings and innovative services that promote economically viable and effective retrofit measures for properties. This is exactly where Purpose Green comes in: The company has developed a holistic hybrid end-to-end solution for energy-related refurbishment and long-term ESG management. The process begins with the recording of all relevant basic data of a building and the internal creation of a digital 3D twin, so that owners receive a complete overview of the energy status of their property. Based on this, Purpose Green's energy consultants, construction managers, and construction experts ensure that the necessary energy-related construction and retrofit measures are planned and independently carried out. This makes Purpose Green a true "One-Stop-Shop" for the cost-efficient and time-saving decarbonization of the building sector.

Lucas Christel, Co-Founder & CEO Operations: "As a green partner to the real estate industry, we want to help our customers transform their real estate holdings into valuable and sustainable assets for a green future. We provide them with the best possible data overview and support them in the planning, implementation, and handling of all relevant energy-related construction and retrofit measures. Financing of this magnitude, and in such a short period in the current market environment, confirms that we have created an offering that contributes to solving current problems in the European construction industry and meets with immense demand. With the fresh capital, we can further expand our business. We are pleased to have won over Speedinvest and Atlantic Labs, two of Europe's most renowned early-stage investors."

Andreas Schwarzenbrunner, Partner at Speedinvest: "The European building sector urgently needs innovative and sustainable solutions to become climate-neutral. The vision and offering of Purpose Green directly convinced us. We have great confidence in the team behind Purpose Green and are curious to see how they will further develop their business in Germany and beyond. We are convinced that their end-to-end solution will play a key role in the energy transition in Europe and become the preferred partner of the real estate industry."

Lukas Erbguth, Principal at Atlantic Labs: "I have known Lucas and Lennart for over 5 years and was very impressed by the perseverance they showed in building their first company. Now, with Purpose Green, we not only see the perfect fit between the founders and the market, but also believe that the current macroeconomic and regulatory environment offers the perfect timing for the company's success. We can't wait to see how their One-Stop-Shop for the energy transformation of buildings will contribute to making the European real estate sector climate-neutral."

About Purpose Green

Purpose Green, headquartered in Berlin, is a German climate tech company that leads the way to the decarbonization of the building sector through holistic end-to-end solutions. The company enables the transformation of multi-family houses, residential and commercial buildings, as well as office properties into green, sustainable buildings by supporting owners, property management companies, and asset managers/institutional funds through refurbishment and energy consulting at both individual property level and entire portfolio level. As a One-Stop-Shop, Purpose Green simplifies the entire process and offers energy inventory, refurbishment roadmap (iSFP), grant procurement (BAFA/KfW/local offers), energy implementation, construction CAPEX project management, as well as long-term ESG management and reporting from a single source. Purpose Green is supported by some of Europe's most renowned early-stage investors, including Speedinvest and Atlantic Labs. Learn more at https://purpose-green.com/.

About Speedinvest

Speedinvest is a leading early-stage investor with over 1 billion euros in AUM and more than 40 investors based in Berlin, London, Munich, Paris, and Vienna. Our specialized teams are the first to finance Europe's most innovative technology startups, and our in-house operational experts stand by the founders to support them in growth, human resources, market expansion, and much more. Wefox, Bitpanda, TIER Mobility, GoStudent, Wayflyer, Open, CoachHub, Schüttflix, TourRadar, Adverity, and TWAICE are among our portfolio of over 250 companies. Learn more at https://speedinvest.com.

About Atlantic Labs

Atlantic Labs is the leading pre-seed fund in Germany and Northern Europe. Our investment approach is thesis-driven with a focus on Climate Tech, Digital Health, AI & Data, Future of Work, Mobility & Logistics, Industrial Automation, Fin- & PropTech. With more than 100 lead investments since 2013, we are the trusted partner that founders turn to first when starting a new company; and we accompany founders throughout their entire entrepreneurial journey. Our talent and venture development team provides dedicated support for successful and sustainable growth of our ventures. GetYourGuide, SoundCloud, Choco, Zenjob, Softr, Wandelbots, and Vimcar all belong to our portfolio. Learn more here: https://atlanticlabs.de/.