Ecoworks has raised €40 million in a Series A funding round led by World Fund, with participation from Haniel, Kompas VC, and ISAI. The funds will be used to update the company's software platform, develop a cost prediction tool, and further develop the prefabricated facades. The company aims to reach between €80 million to €100 million in billings over the next 12 months and hit €1 billion in revenue by 2027.
Key takeaways:
- Ecoworks, a Berlin-based climate startup, is using digital technologies, AI, and industrial robots to retrofit energy-inefficient buildings in Europe.
- The company's solution involves installing prefabricated insulation panels on the outsides of existing buildings to limit heat loss, while also incorporating renewable energy generation into the same project.
- Ecoworks has raised €40 million in a Series A funding round led by the World Fund, with participation from Haniel, Kompas VC, and ISAI.
- The funds will be used to update Ecoworks' software platform, develop a cost prediction tool, and expand its team as it aims to reach €1 billion in revenue by 2027.