German Home Energy Startup Enter Raises €19.4m In Series A

Most homes in Europe can be notorious for overheating simply because of their age. Most of them were built at a time when knowledge about energy consumption was minimal, unlike today.

However, with energy getting more expensive and energy security taking the lead as a geographical issue, several tech startups have emerged to look into the matter. Consumers only need to look at the issue of how much energy their homes need, how to manage it, and how to finance the necessary changes.

For instance, let’s look at this startup out of New York, Sealed. Sealed is a climate tech platform that designs, manages, and finances home weatherization and electrification projects. Further, it recently bought a sensor startup, InfeSense, to fuel its energy-saving services.

Notably, a similar startup, Enter in Germany, formerly known as ( Baupal), has now raised a €19.4 million Series A financing round led by Target Global. Additionally, in the round were VC platforms, including Foundamental, Coatue, A/O Proptech, and Partech. The homeowners complete a digital survey.

Later they get an assessment of the energy status of their building and suggestions on how to minimize their outgoings. Further, Enter takes care of the appropriate subsidy applications for renovations.

On the other hand, various personnel have given their remarks regarding Enter. Enter’s co-founder and managing director, Justin Menten, noted that the traditional energy assessments are too slow.

He further asserted:

Currently, about 200,000 properties are renovated in Germany yearly. However, in order to achieve our climate goals, it must be more than one million. Today’s certified energy efficiency consultants cannot traditionally achieve this goal. Although training new advisors is already ongoing at high speed, it will take several years before sufficient capacities are available in Germany. However, this is where Enter comes in.

Enter business ambassadors and advisors

Notably, Enter has business ambassadors and advisors as well as VCs. They include Oliver Markel, McMuckler co-founders Hanno Heintenburg and Lukas Piezonka, Taxfix COO Dr. Daniel Kreiter, Medwing founder Johannes Rogendorff and DST Global co-founder Tom Stafford.

Reportedly, over a call, the co-founder and managing director, Max Schroeren, said:

We end up with 250 data points and only get to ask eight to nine questions. And that gives us 90% accuracy about the real energy-saving of the house. We later do a site visit with our energy consultants to approve the data and add more and more data points. In the end, the homeowner has a digital twin of the building and a good know-how on managing the house.

On the other hand, Dr. Ricardo Schaefer, a partner at Target Global, noted that” ensuring that our use of energy is effective and sustainable, is the vital consideration among most people globally.

Through ENTER’s unique technology, the homeowners can now identify the full energy potential of their homes and quickly obtain access to energy-saving home improvements.”

Notably, Sarah Cannon, the general partner and head of Private European investments at Coatue, gave her remarks. Sarah stipulated that as Europe’s shift to energy sovereignty increases, the consumers require tangible solutions to navigate the transition.

Enter’s unique home energy intelligence platform provides consumers with direct control over the energy footprint and the steps necessary to improve energy efficiency and reduce climate impact.”

However, Enter alleges that almost 75% of homeowners are worried they can’t afford energy-efficient renovations, hence why it is offered as part of the service.

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