German PropTech company metr Building Management Systems has secured €10.5 million (approximately $11.9 million) in a Series B funding round. The investment will support the company's building management technology and future growth initiatives.
The funding round was led by SBG – Sächsische Beteiligungsgesellschaft, marking its first investment in the company.
Meanwhile, several existing investors also participated in the round. These included Kachel GmbH, a subsidiary of WIKA Alexander Wiegand SE & Co. KG, along with IBB Capital, BRAWO Capital, Next Big Thing AG, and a group of existing business angels.
The transaction received legal support from Heuking. The firm's advisory team was led by equity partners Ariane Neubauer from its Berlin office and Henrik Lay from its Hamburg office.
The latest funding provides metr with additional capital as it continues to develop its building management systems and strengthen its position in the PropTech sector.
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