Funding

Vamo funding news – Cologne-based Vamo Raises €7 Million Oversubscribed Seed Extension Round in Funding

Oct 28, 2024 | By Kailee Rainse

Vamo funding news - Cologne-based Vamo Raises €7 Million Oversubscribed Seed Extension Round in Funding

Vamo, a company focused on making it easier to switch to high-efficiency heat pumps, has raised over €10 million in funding. After initially raising €3 million in 2023, Vamo has now secured an additional €7 million in an oversubscribed seed round.

SUMMARY

  • Vamo, a company focused on making it easier to switch to high-efficiency heat pumps, has raised over €10 million in funding.
  • Vamo is a digital trade company specializing in heat pumps that stands for the highest quality and maximum reliability.

Investor of the round

This funding round was led by Extantia Capital from Berlin and GET Fund from Munich. The money will help Vamo grow its brand in green heating, expand its network of partners, and enhance its digital services. Existing investors, including caesar., neosfer, and Realyze, also contributed.

It is building a fast-growing network of heat pumps called the Heat Fleet™, which aims to create a smart system that adapts to changing energy needs and optimizes energy use. This network could save billions by reducing the need for costly infrastructure upgrades.

Dr. Jan Ossenbrink, Co-Founder & CEO of Vamo said, “We will render heat pumps a no-brainer for mainstream customers, making it risk and burden-free for homeowners to switch to the cheapest form of heating, All of this while earning money from stabilizing the power grid of the future. The new funding will allow us to seize the Edison moment in green digital heating.”

It’s growth reflects the rising demand for sustainable heating solutions. The International Energy Agency (IEA) estimates that heat pumps could cut global CO2 emissions by at least 500 million tonnes by 2030.

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In just six months, Vamo has expanded from its base in Cologne to cover all of Germany, growing six times year-over-year. The company now manages hundreds of smart heat pumps across all 16 German states, contributing to a greener heating transition.

Joern Carlos Kuntze, Co-Founder & Partner at Extantia Capital said, “Vamo is set to lead the future of sustainable heating, We’re thrilled to back a team proving that the transition can be faster, more affordable, and capable of saving customers millions. At Extantia, we believe real innovation delivers green solutions at a discount, not a premium – and that’s exactly what Vamo is achieving.”

Florian Löbermann Partner at GET Fund said, “Vamo’s approach to heating is both efficient and impactful, By using data to manage heat pump installations they reduce energy waste and help stabilize the grid. This method directly addresses key challenges in energy use, offering a well-designed solution that cuts carbon emissions and lowers infrastructure costs. We are eager to support Vamo as they expand and continue driving these meaningful results.”

Aim of the company

Vamo aims to speed up the shift to sustainable heating by helping customers switch from oil and gas to heat pump systems in less than 30 days ensuring they operate reliably. The company has developed a software solution called HeatOS to optimize the customer experience and manage the supply chain.

About Vamo

Vamo is a digital trade company specializing in heat pumps that stands for the highest quality and maximum reliability. They carry the seal of approval "Heat pump specialist company". With many years of experience and a team of highly trained specialists, they offer you tailor-made solutions that meet the highest demands. "

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