syte, a Münster, Germany-based AI-driven platform focused on the real estate sector, has secured around €5 million in seed funding.
Additionally, syte has received €800,000 in public funding for its ENERsyte project, which advances energy-efficient planning across German municipalities.
Investors
The round was led by the Schwarz Group, with participation from Vantage Value, CVC vent.io, and existing investors such as High-Tech Gründerfonds (HTGF), serial PropTech founder Moritz Luck, and property entrepreneur Fabian Axthelm.
The Schwarz Group is an international retail group with around 13,900 branches and 575,000 employees across 32 countries, generating €167.2 billion in sales in 2023. Its key divisions include food retail (Lidl and Kaufland), in-house production (Schwarz Production), environmental services (PreZero), and IT solutions (Schwarz Digits). The group also provides operational support through Schwarz Services.
syte Use of Funds
The fresh funds will support syte mission's to digitize and decarbonize the real estate industry through an AI-based data platform and B2B SaaS and to accelerate its growth.
About syte
Founded in 2021, syte focuses on digitizing and decarbonizing the real estate industry. Its platform provides real-time, AI-based tools for a variety of stakeholders, including banks, brokers, project developers, planners, and authorities. These tools enable users to access and analyze crucial property data, evaluate construction potential, and assess energy efficiency and renovation scenarios. One of its flagship products, "syte Renovate," helps users plan property renovations by generating optimal scenarios. The platform also supports decision-making around cost efficiency, energy savings, and subsidies.
Funding Details
Company: syte GmbH
Raised: €5.0M
Round: Seed Round
Funding Date: September 2024
Lead Investor: The Schwarz Group
Additional Investors: Vantage Value, CVC vent.io, High-Tech Gründerfonds, Moritz Luck, Fabian Axthelm
Company Website: https://www.syte.ms/
Software Category: Real Estate Data and Insights
Source: https://www.syte.ms/blog-posts/finanzierungsrunde