German residential specialist Vonovia has becoming the lead investor in the current series B funding round of Gropyus, a sustainable housing proptech.
The volume of this financing round for the Austrian proptech is at around €100 mln, bringing the total funding amount to date to more than €200 mln.
In connection with this investment, Daniel Riedl, the Vonovia SE board member responsible for development and new construction projects, will be appointed to the supervisory board of Gropyus.
Gropyus will use the funds from this financing round to push ahead with the realisation of its long-term growth plans, which include the expansion of the production site in Richen, Germany.
Said Riedl: 'The general housing shortage and climate change are two key challenges of our time. Our society must push ahead with environmentally friendly and sustainable solutions.
At Vonovia SE, we acknowledge our obligation to make a difference. Gropyus is digitalising and transforming the housing and construction industry. We want to leverage this in our projects going forward and take resource-efficient living to the next level.'
This round of financing underlines Gropyus’s prominent position in the field of sustainable and digital construction and living.
'We have ambitious growth plans for the coming years and are proud to have the continued support of new and existing investors," said Gropyus CEO, Markus Fuhrmann.
'We are delighted that we have been able to impress Europe's largest residential real estate company, Vonovia, with our products. This shows the considerable trust and belief they have in our mission.
'We will invest the funds from our current Series B financing round in product development and the expansion of our production and manufacturing capacities in Richen,” says the CEO of Gropyus.'
Vonovia has a workforce of approximately 15,900 employees and its CEO is Rolf Buch.