BERLIN | 21 March 2024 – Berlin-based startup, Fuchs & Eule has raised a multi-million Euro Series A to capitalise on the huge demand for green home renovations. SET Ventures led the round along with contributions from Realyze Ventures and Picus Capital.
Fuchs & Eule operate as an independent energy renovation advisor for the residential building sector. Based on customer inputs and a recommendation algorithm, their innovative platform provides homeowners with a full renovation roadmap, as well as access to financing options and contact with installers for prioritised renovation projects. By using Fuchs & Eule’s process, thousands of homeowners have seen their home energy ratings increase dramatically.
The demand for green renovations is enormous. Increasing energy costs and sustainability regulations are putting immense pressure on property owners to make their homes and businesses more energy efficient. To the point where it has now begun to hit these owners where it hurts most, their property values. In 2024, buildings with a “C” energy rating or worse are at risk of a 20-40% decrease in value relative to buildings rated “A” in energy efficiency.
In Germany, where Fuchs & Eule are based, there are at least 16 million homes that fall into this category. Homes which desperately need refurbishment to maintain value and are missing out on significant savings on future energy costs.
Fuchs & Eule are seizing the opportunity. The founding team are leveraging their previous startup experience to execute at a rapid clip having scaled the company to over 100 employees within 18 months. This is especially promising given the complex and highly fragmented nature of the built environment market. A sector that is looking for solutions to lower its large contributions to global CO2 emissions.
SET Ventures recognised Fuchs & Eule’s potential as a perfect fit for its investment thesis and moved swiftly to engage: “The building sector is one of the largest fossil energy consumers in our economy but so far has not played its role in the decarbonisation challenge. Fuchs & Eule has built a delightful product that enables mass-market adoption of energetic home renovations. We are beyond excited to work with Robin and his team to build this to its full potential.” Says Dr. Till Stenzel, Partner at SET Ventures.
Led by a seasoned serial entrepreneur and bolstered by a top-tier executive team, we believe in Fuchs & Eule’s capacity to redefine the energy efficient housing landscape. Our investment reflects our confidence in their mission, technology, and team.” Says Michael Stephan, Partner at Realyze Ventures.
The future looks bright for Fuchs & Eule. The company was founded as a digital property management platform in April 2021 but quickly pivoted to energy renovations in 2022. Since launching this service 18 months ago, Fuchs & Eule has completed over 2,000 renovations in Germany with an average CO2 savings of 6.7 tons per building.
“Till, the SET and the Realyze team have been great partners in closing this round quickly despite some regulatory headwinds at the time.” Says Fuchs & Eule founder and CEO Robin Behlau. “We truly believe our customer experience stands above all others, as evidenced by the thousands of satisfied customers we’ve helped already. With this funding, we’re ready for even more.”
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About Fuchs & Eule
Fuchs & Eule aims to make Germany’s houses energy efficient. They bring together 15 years of energy expertise with digital intelligence to make energy consultation more precise, efficient and fast at scale. Thus, energy renovations become ecologically and economically attractive for every house owner.
For every customer, they develop a digital twin of their house, simulate all possible renovation measures, identify optimal funding solutions for each measure and come up with the ideal, individual renovation roadmap for everyone. Based on the digital twin and the renovation plan, they then help the customer to get started on their projects by connecting to the right craftsmen and financing solution.
For further information please visit Fuchs & Eule or contact:
Vera Langer
vera.langer@fuchs-eule.de
