Germany’s Purpose Green secures €3.3M to transform properties into sustainable assets

Berlin-based Purpose Green, a climate tech company driving the decarbonisation of the building sector, announced that it has raised €3.3M in a fresh round of funding. 

The investment was led by Europe’s early-stage investors Speedinvest and Atlantic Labs.

Purpose Green will use the proceeds to strengthen its team with ESG, climate and building experts, expand its presence in Germany and continue developing its service and support offering.

Solution for energy renovation and ESG management

Purpose Green, which specialises in decarbonising the building sector, offers end-to-end solutions for transforming various properties into sustainable buildings, including individual and portfolio-level refurbishment and energy consulting.

The company provides services such as energy inventory, subsidy procurement, structural project management, and long-term ESG management. 

Its comprehensive approach simplifies the process for property owners, managers, and institutional funds, contributing to environmental conservation and sustainable development efforts.

Purpose Green’s founders include Okitonga Memba, co-founder and Business Development, Lucas Christel, co-founder & MD/Operations, and Lennart Christel, co-founder & MD/Business Development.

Investment in Europe’s building sector

The goal to meet the Paris Agreement climate target of 1.5 degrees is closing. The building sector, responsible for a significant portion of energy consumption and greenhouse gas emissions in Europe, urgently needs renovation. 

According to the European Commission, around 240 million European buildings don’t meet regulatory standards.

Andreas Schwarzenbrunner, Partner at Speedinvest says, “Europe’s building sector is in urgent need of innovative solutions as it strives to achieve climate neutrality. When we learned about Purpose Green’s vision and technology, we were immediately intrigued.”

“We have strong confidence in Purpose Green’s team and cannot wait to see them grow and expand their business operations in Germany and beyond. We are convinced that their platform will play a pivotal role in Europe’s energy transition and become the real estate industry’s preferred partner.”

Estimates show that trillions in investments are necessary for a successful energy transition. To address this, coordinated efforts, including policy changes, financial investments, and public awareness campaigns, are crucial to meet climate targets and ensure a sustainable future.

Speed and clarity to energy-related construction and renovation projects

Owners and portfolio holders often lack comprehensive energy data about their properties, making energy retrofitting a challenging and complex process. These measures are costly, time-consuming, and involve bureaucratic challenges. 

Existing market solutions mainly focus on complete refurbishment, which is economically viable only in a few cases. Addressing these issues requires innovative approaches, simplified processes, and financial incentives to encourage more widespread and feasible energy retrofitting efforts.

Purpose Green offers a holistic solution for decarbonising the building sector. The company has developed a digital 3D twin of properties, providing owners with a detailed energy overview. Their team of experts then plans and executes energy-related construction measures, making the process efficient and cost-effective.

Lucas Christel, co-founder & MD Operations says, “As the green partner to the real estate industry, we want to help our customers transform their real estate portfolio into a green future in a value-enhancing and sustainable way.”

“We provide them with the best possible data overview and support them in the planning, implementation and handling of all relevant energy-related construction and renovation measures.”

“Financing on this scale, and in such a short period of time in the current market environment, confirms that we have created an offering that meets immense demand and contributes to solving current problems in the European construction industry.”

“The fresh capital will allow us to further expand our business. We are pleased to have attracted Speedinvest and Atlantic Labs, two of the most renowned early-stage investors in Europe,” adds Christel.

Brief about the investors

Speedinvest is an early-stage venture capital firm with over €1B in assets under management. Based in major European cities, they fund technology startups and provide ongoing support to founders in areas like growth and market expansion. The firm’s portfolio includes companies like Wefox, Bitpanda, TIER Mobility, and CoachHub.

Atlantic Labs is a pre-Seed fund in Germany and Northern Europe, specialising in climate tech, digital health, AI, data, and other innovative sectors. It offers thesis-driven investments and has made over 100 lead investments since 2013. Their portfolio includes companies like GetYourGuide, SoundCloud, and Choco.

Speaking about the investment in Purpose Green, Lukas Erbguth, Principal at Atlantic Labs says, “I have known Lucas and Lennart for over 5 years, and I was very impressed by the perseverance they showed when they built their first venture. Now with Purpose Green, we not only see the perfect founder-market fit, but we believe that the current macro- and regulatory environment offers the perfect timing for them to succeed.”

“We can’t wait to see how they will contribute to the European real estate sector becoming climate-neutral with their one-stop shop for energy transformations of buildings.”