KUGU funding news – Berlin-based KUGU Raises €8.5 Million in Series A Round Funding

New investors in this round include Tengelmann Ventures, Gewobag ID, and industry experts Michael Lowak (former CEO at G+E GETEC Holding GmbH) and Axel Müller (former Management Board member at QUNDIS GmbH). Both Lowak and Müller have been advisors to KUGU since last year.

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Existing investors, such as Wecken & Cie., IBB Ventures, and Future Energy Ventures, also reinvested in the company. The funds will be used to further develop KUGU's digital products and expand its sales and operations.

Supporting Decarbonization

It's digital solutions help real estate companies reduce their carbon emissions and meet their environmental goals. By acting as an advanced extension of the building's energy systems, KUGU’s products monitor and optimize energy use in real-time, reducing CO₂ emissions and energy consumption by up to 30%.

The technology is built on it’s own platform, and the costs for these services are passed on to the tenants.

Voices of Successful Collaboration‍

Alexander Greis, Investment Manager at Tengelmann Ventures said, "With the continuous expansion of its product portfolio and extensive experience with major housing associations, it has established itself as a significant innovation leader in digital energy solutions for the real estate sector, We are excited to support the team on its growth journey with our expertise in retail and commercial real estate. "

Poised for the Next Phase of Growth

Co-Founder and Managing Director Christopher von Gumppenberg said, "The successful completion of this funding round allows us to continue building our dedicated team – together, we aim to achieve ambitious growth goals," "Understanding and utilizing the energy data generated in every building was the founding idea of KUGU, which is now realizing its great potential with our decarbonization solutions in the digital boiler room sector. We are very proud to see our innovative solutions live in action with an increasing number of clients."

Managing Director Niko Mikac said, "This investment allows us to build on our success, with plans to optimize approximately 50,000 buildings on our platform in the near future, This will save over 100,000 tons of CO₂ emissions annually in the real estate sector. Our next key milestone is achieving profitability for KUGU. We extend our gratitude to all our existing and new investors, whose trust and ongoing support have made KUGU's success possible."‍

About KUGU

The KUGU platform makes building technologies digital and automates related tasks. They focus on optimizing heating systems and managing heat cost billing.