Funding

[Funding alert] Berlin-based Proptech Startup Novo Raises €1 million Pre-seed Funding

Sep 29, 2023 | By Startup Rise EU

Novo, a Proptech startup based in Berlin, received €1 million in pre-seed funding. Citizen Capital provided the lead in the financing. The early stages investment 2bX, who specializes in urban tech, was the co-lead. Antler, one of the most active early stages global VC firms, additionally made investments in Novo. Several well-known angel investors, notably Franz De Waal of the proptech sector and Kerstin Bock of Atomico, took part in the pre-seed round as well.
Team - Team - Novo

Novo, a Proptech startup based in Berlin, received €1 million in pre-seed funding. Citizen Capital provided the lead in the financing. The early stages investment 2bX, who specializes in urban tech, was the co-lead. Antler, one of the most active early stages global VC firms, additionally made investments in Novo. Several well-known angel investors, notably Franz De Waal of the proptech sector and Kerstin Bock of Atomico, took part in the pre-seed round as well.

Owners have to negotiate a complicated web of regulations and rewards in order to make their building more energy-efficient. Novo is a type of building technology created to speed up and simplify the difficult analytical, planning, and finance processes associated in energy rehabilitation.

Read also - Amsterdam-based no -code Website Builder Framer Secures $27M in Series C Round Funding

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Mona Hornung, Co-Founder of Novo, commented: “Buildings start to be political, as reducing their carbon emissions will be the most massive use case of our century. Novo is uniquely placed to bring digital disruption to the sector of energy renovation. We see building sustainability being a major trend in Europe. Having the support of investors with both an impact and urban tech expertise is a perfect combination to tackle this challenge.”

Read also - Hungary-based Startup Flawless Secures $2.2 Mn in Seed Funding

To ensure the effectiveness of its methods, Novo currently works together with TU Berlin. The money will be employed to speed up automation and make more investments in Novo's technology. For the company to reach owners of buildings broadly, the German proptech has established relationships with significant and powerful partners such as financial institutions and energy companies.

Read also - French Startup Kamino Retail Secures €1.25m Pre-Seed Round Funding

Olivier Mougenot, Partner at Citizen Capital, said: “We’re thrilled to back NOVO’s mission to provide simpler and faster access to much-needed home energy renovation. The drive of the founding team to speed up real estate’s climate action across Europe struck us and made supporting Novo an obvious choice”.

About NOVO

With NOVO, they simplify energy remodeling for property analysis, planning, and financing. with the simple goal of decarbonizing households. got the "Digital Innovation 2023" award from the ministry of the environment.

Read also - Brussels-based Proptech Startup Izix Raises €3 Mn Series A Funding

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