Vamo, a Cologne-based startup streamlining the switch to a high-efficiency heat pump, has expanded its seed round to over €10 million. After raising €3 million in 2023, Vamo has now additionally secured more than €7 million in an oversubscribed seed extension round. Led by Berlin’s Extantia Capital and Munich’s GET Fund, the fresh capital will be used to establish Vamo as a leading brand in green heating, scale its national partner network, and further develop its digital service offering. Existing investors caesar., neosfer, and Realyze also participated in the round.
Launched in 2023, Vamo is on a mission to accelerate the transition to sustainable heating. The company helps customers switch from oil and gas to a modern heat pump system in less than 30 days, ensuring reliable and efficient operations thereafter. Vamo has developed a proprietary software solution called HeatOS to optimize the customer journey from ‘lead to heat’, which manages the complex supply chain in the background. After installation, the heat pumps are connected to the internet and monitored and optimized in Vamo’s control room, which ensures reliable performance for decades, maximizing efficiency and minimizing energy consumption.
This way, Vamo is building the fastest-growing network of interconnected heat pumps – the Heat Fleet™ – forming the backbone of a smart system that adapts to fluctuating energy demand and optimizing energy consumption. A smart dispatch network that has the potential to save billions of euros by reducing the need for costly grid expansion and infrastructure costs.
“We will render heat pumps a no-brainer for mainstream customers, making it risk and burden-free for homeowners to switch to the cheapest form of heating,” said Dr. Jan Ossenbrink, Co-Founder & CEO of Vamo. “All of this while earning money from stabilizing the power grid of the future. The new funding will allow us to seize the Edison moment in green digital heating.”
Vamo’s rapid growth is a testament to the growing demand for sustainable heating solutions. According to the International Energy Agency (IEA), heat pumps have the potential to cut global CO2 emissions by at least 500 million tonnes by 2030. In just six months, the company expanded from its base in Cologne to a nationwide presence, growing sixfold year-over-year. Today, Vamo manages hundreds of smart heat pumps across all 16 federal states in Germany, driving forward the transition to greener, more efficient heating.
“Vamo is set to lead the future of sustainable heating,” added Joern Carlos Kuntze, Co-Founder & Partner at Extantia Capital. “We’re thrilled to back a team proving that the transition can be faster, more affordable, and capable of saving customers millions. At Extantia, we believe real innovation delivers green solutions at a discount, not a premium – and that’s exactly what Vamo is achieving.”
“Vamo’s approach to heating is both efficient and impactful,” commented Florian Löbermann, Partner at GET Fund. “By using data to manage heat pump installations, they reduce energy waste and help stabilize the grid. This method directly addresses key challenges in energy use, offering a well-designed solution that cuts carbon emissions and lowers infrastructure costs. We are eager to support Vamo as they expand and continue driving these meaningful results.”
Read the orginal article: https://www.eu-startups.com/2024/10/cologne-based-vamo-secures-over-e7-million-to-help-customers-save-billions-in-heating/
