Berlin-based RE Joule GmbH, which operates under the brand VREY, has raised €3.3 million in a seed funding round.
The investment was led by Rubio Impact Ventures. In addition, High-Tech Gründerfonds and Kopa Ventures also participated in the round.
The company plans to use the capital to expand its team and improve its technology platform. At present, VREY has around 20 employees.
Most importantly, the funding will support the development of new energy use cases for property owners. As a result, the company aims to strengthen its position in the residential solar energy segment.
VREY, led by co-founders Julius Pahmeier and Cedric Jaeger, offers a smart metering and billing platform. This platform allows landlords to supply solar power directly to tenants.
The solution operates under Germany’s “Gemeinschaftliche Gebäudeversorgung” framework. Therefore, property owners can benefit from solar energy without taking on the responsibilities of becoming a formal energy supplier.
Currently, the company manages projects across all 16 German federal states. It serves a mix of clients, including private landlords, housing cooperatives, and real estate developers.
Moreover, VREY oversees a three-digit number of projects. This indicates steady adoption of its platform within the German housing market.
—----------------------
Raising capital? Explore 3,000+ PropTech and ConTech VCs in one place →https://www.proptechbuzz.com/vc
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.