A German climate tech startup Purpose Green, which drives the decarbonisation of the building sector, has secured €3.3 million in funding. The round was led by European VCs Speedinvest (which backed Resourcify and Sylvera) and Atlantic Labs.
The company will use the fresh capital to strengthen its team with ESG, climate and building experts, expand its presence in Germany and continuously develop its service and support offering.
Lucas Christel, Co-Founder & Managing Director Operations, said: “Financing on this scale, and in such a short period of time in the current market environment, confirms that we have created an offering that meets immense demand and contributes to solving current problems in the European construction industry. The fresh capital will allow us to further expand our business. We are pleased to have attracted Speedinvest and Atlantic Labs, two of the most renowned early-stage investors in Europe.”
Andreas Schwarzenbrunner, Partner at Speedinvest, added: “Europe’s building sector is in urgent need of innovative solutions as it strives to achieve climate neutrality. When we learned about Purpose Green’s vision and technology, we were immediately intrigued. We have strong confidence in Purpose Green’s team and cannot wait to see them grow and expand their business operations in Germany and beyond. We are convinced that their platform will play a pivotal role in Europe’s energy transition and become the real estate industry’s preferred partner.”
Lukas Erbguth, Principal at Atlantic Labs, added: “I have known Lucas and Lennart for over 5 years, and I was very impressed by the perseverance they showed when they built their first venture. Now with Purpose Green, we not only see the perfect founder-market fit, but we believe that the current macro- and regulatory environment offers the perfect timing for them to succeed. We can’t wait to see how they will contribute to the European real estate sector becoming climate-neutral with their one-stop shop for energy transformations of buildings.”
Decarbonisation of building sector
The building sector is responsible for 40% of energy consumption and 36% of greenhouse gas emissions in Europe and it is one of the largest emitters of CO2 in Germany. In Europe alone, 240 million buildings are a refurbishment case and do not yet meet regulatory standards. According to recent estimates, massive investments are needed in the energy efficiency of real estate.
However, most owners still lack a comprehensive overview of the relevant energy data of their properties. At the same time, energy retrofitting measures are usually cost-intensive, time-consuming and associated with high bureaucratic hurdles. This is where, Berlin-based climate tech, Purpose Green, comes into the picture by bringing speed and clarity to energy-related construction and refurbishment measures.
Purpose Green was founded by Okitonga Memba, Lucas Christel, Lennart Christel, and Anton Levitsky in Berlin. It provides holistic end-to-end solutions for the decarbonisation of the building sector. Through refurbishment and energy consulting at individual property level and whole portfolio level, the company enables the transformation of multi-family, residential, commercial and office properties into green, sustainable buildings by supporting owners, property managers and asset managers/institutional funds.
How does it work?
The process begins with the recording of all relevant property master 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 energy consultants, construction managers and construction experts ensure that the necessary energy-related construction and renovation measures are planned and carried out independently. In this way, Purpose Green serves as a true “one-stop-shop” for the cost-efficient and timesaving decarbonisation of the building sector.
