42watt's existing investors also participated in the round – including Bonventure, Proptech1, McMakler founder Felix Jahn, Christoph Behn, and other renowned angel investors 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 to become the leading platform for the renovation of existing buildingsFounder and CEO Jörg Überla, together with his co-founder, architect and energy efficiency expert Marcus Dietmann, is pursuing the mission of reducing energy consumption in existing buildings to an average of less than 42 kWh per year and square meter. This reduction is necessary to achieve Germany's climate targets in the building sector by 2045.
For this, 42watt has Experts from the Technical University of Munich has developed a digital scenario planner designed to support property owners on their 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 cost-effectiveness and eligibility for funding, and receive support from energy efficiency experts and tradespeople throughout the entire renovation project. 42watt is also planning additional specialized consulting modules to further digitize energy consulting.
“Energy-efficient building renovation must become as easy as a Netflix subscription,”
says Jörg Überla, founder and CEO of 42watt, and adds:
"30 percent of CO2 emissions are generated in existing buildings. That's where we come in: With our services, we will accompany millions of homeowners on their journey to a climate-neutral home and help Germany achieve its climate goals."
Tomas Kemtys, General Partner at Contrarian Ventures, commented on the financing:
"Tackling climate change will remain humanity's most urgent challenge over the coming decades. Decarbonizing the building stock plays a crucial role in this, as otherwise we will quickly reach tipping points. With their hands-on mentality and a modular solution that is as intuitive as it is elegant, the founders of 42watt are setting the standard for achieving this important transition."
