An AI-powered solution for the real estate industry, founded in 2021, recently secured a seed investment of €5 million to rapidly drive digitalization and decarbonize the property sector. The round was led by companies within the Schwarz Group, supplemented by investments from Vantage Value, CVC Vent.io, existing investors such as High-Tech Gründerfonds (HTGF), serial PropTech founder Moritz Luck, and property entrepreneur Fabian Axthelm.
The recently secured capital is expected to bolster Syte’s AI-driven knowledge platform, providing real-time comprehensive property information to banks, property brokers, builders, and planners. The platform delivers actionable intelligence on property searches, developmental viability, financial projections, and operational efficiency, enabling savvy investors to inform their decisions at the earliest stages of real estate strategy.
According to David Nellessen, founder and Chief Technology Officer of syte, “
One of Syte’s latest innovations, “Syte Renovate,” streamlines the renovation planning process by automatically determining ideal renovation scenarios without necessitating extensive knowledge input. The software empowers customers to make informed decisions about renovations by providing access to pricing information, available subsidies, and energy efficiency insights, thus integrating sustainability as a fundamental consideration in their investment choices. The platform also enables clients to develop comprehensive renovation blueprints for entire property holdings, thereby allowing them to revitalize structures in a financially prudent manner.
Alongside non-public funding, Syte has successfully secured €800,000 in public funding for its ENERsyte venture, which is part of the Grüne Gründungen.NRW competition. The venture aims to simplify municipal heating planning in Germany by providing accurate insights into building energy requirements, thereby reducing planning time by up to six months.
Matthias Zühlke, syte’s co-founder and CEO, underscored the crucial role this investment will play in propelling the company forward.
