Berlin-based climate-neutral building renovation company, ecoworks on Thursday announced that it secured €40 million in one of the largest Series A rounds in the global construction technology sector, bringing the company's total funding to over €82 million.
Specializing in modular, climate-neutral renovation solutions for the housing industry, ecoworks utilizes AI-supported digital planning for constructing and assembling prefabricated facade and roof elements. This approach allows the company to convert apartment buildings to a NetZero standard in a matter of weeks.
The facade elements manufactured by ecoworks come equipped with integrated windows, insulation, and building technology. Thus, the conversion of apartment buildings to a net-zero standard can be accomplished within a short timeframe. This process not only improves energy efficiency but also contributes to a more than 100 percent increase in building value, which could help counterbalance any extra expenses passed onto tenants.
With a focus on Germany, ecoworks is actively implementing its technology on numerous buildings and continuously expanding its product range.
The Series A round was led by World Fund, with participation from investors such as Haniel, KOMPAS VC, and ISAI. As the demand for renovation grows in the European market across residential, industrial, and commercial sectors, investors are banking on ecoworks' rapidly scalable solutions to address this increasing need.
“In the debate about the energy transition, buildings are often forgotten,” said Daria Saharova, Managing Partner at World Fund.
“ecoworks has a unique technology to address this. It reduces the effort on the construction site to a minimum, allowing renovations be implemented serially and in the shortest possible time. The potential for CO2 savings is immense - for us a clear investment decision.”
Andreas Winter-Extra, Partner at KOMPAS VC, said, “Our Investment in ecoworks reflects our unwavering commitment to creating a sustainable, efficient and resilient building sector.”
