Sustainable PropTech KUGU Secures Funding for Expansion
KUGU Managing Directors Christopher von Gumppenberg and Niko Mikac - © KUGU
According to a recent article on Startbase, the Berlin-based PropTech startup KUGU has successfully closed a €8.5 million Series A funding round. The investment will support the company's efforts to expand its digital product portfolio and grow its sales and operations as it aims to drive the decarbonization of the real estate sector.
KUGU, led by co-founders Christopher von Gumppenberg and Niko Mikac, provides innovative software solutions that help property managers optimize energy usage and reduce carbon emissions in buildings. The company's digital platform integrates with building systems to enable real-time monitoring and efficient energy management, helping customers achieve up to 30% savings on energy consumption and emissions.
The new funding round was led by new investors Tengelmann Ventures and Gewobag ID, who join existing backers Wecken & Cie., IBB Ventures, and Future Energy Ventures. KUGU also welcomed industry experts Michael Lowak, former CEO of G+E GETEC Holding GmbH, and Axel Müller, former executive board member of QUNDIS GmbH, as investors and advisory board members.
"With this financing round, we can implement our ambitious growth goals and strengthen our team," said Christopher von Gumppenberg, managing director of KUGU. "Our aim is to fully leverage the potential of digital building data and provide sustainable, energy-efficient solutions for the real estate industry."
KUGU currently manages over 12,000 buildings on its platform and plans to expand this to around 50,000 buildings in the coming years. This growth is expected to result in an annual reduction of over 100,000 tons of CO2 emissions, aligned with Germany's climate protection targets.
"KUGU is an innovation leader in digital energy solutions," said Alexander Greis, Investment Manager at Tengelmann Ventures. "We look forward to supporting the team in their growth journey."
