Existing investors in 42watt also participated in the round, including Bonventure, Proptech1, McMakler founder Felix Jahn, Christoph Behn, and other prominent angels through the Business Angel Club Better Ventures. With the proceeds from the financing round, 42watt plans to expand its product portfolio, grow its team, and enter new market segments.
42watt was founded in Munich at the end of 2021 with the vision of becoming the leading platform for renovating existing buildings. Founder and CEO Jörg Überla, together with co-founder Marcus Dietmann, an architect and energy efficiency expert, pursues the mission of reducing energy consumption in existing buildings to an average of below 42 kWh per year and square meter. This reduction is necessary to achieve German climate targets in the building sector by 2045.
To this end, 42watt has developed a digital scenario planner in collaboration with experts from TU München to support property owners on the path to climate neutrality. Based on ten data points such as electricity consumption or year of construction, homeowners can create their own renovation scenarios, compare their economic viability and funding eligibility, and receive support from energy efficiency experts and craftspeople throughout the entire renovation process. Additionally, 42watt plans to develop further specialized advisory modules to continue digitizing energy consulting.
“Energy-efficient building renovation needs to become as simple as a Netflix subscription,”
says Jörg Überla, founder and CEO of 42watt, and adds:
“30 percent of CO2 emissions come from existing buildings. That’s where we step in: with our services, we will support millions of homeowners on their path to climate-neutral homes and help Germany achieve its climate targets.”
Tomas Kemtys, General Partner at Contrarian Ventures, comments on the financing:
“Addressing climate change will remain humanity’s most pressing challenge over the coming decades. Decarbonizing existing buildings plays a crucial role in this, otherwise we will quickly reach tipping points. The founders of 42watt are setting standards with their hands-on mentality and an intuitive yet elegant modular solution to achieve this important transition.”
