Munich-based EnergyTech start-up nuuEnergy, which specialises in building regional heat pump installation businesses, has secured €4.3 million in a seed funding round.
The round is led by amberra, the corporate venturing studio of the Cooperative Financial Network (Genossenschaftliche FinanzGruppe) Volksbanken Raiffeisenbanken. Additional investors include EnjoyVenture as well as existing backers HTGF, Vireo Ventures, better ventures and Bynd Venture Capital.
The Market Right Now:
Despite a market dip in 2024, the heat-pump market has been growing at double-digit annual rates since 2020. Around 229,000 units were sold last year alone, an increase of 55% year-on-year. According to the German Heat Pump Association (BWP), up to 500,000 heat pumps per year are expected to be installed by 2030. For existing single-family homes in Germany alone, this represents a market volume of more than €21 billion. The climate impact is substantial: switching to heat pumps can reduce building-related CO₂ emissions by up to 95%. However, a shortage of skilled labour and inefficient processes continue to constrain growth.
This is where nuuEnergy GmbH, founded at the end of 2023, comes in, representing a new generation of the heating transition in the building sector: locally rooted, digitally enabled and human-led. nuuEnergy generates revenue through the planning and installation of heat pumps as well as long-term maintenance contracts. Additional revenue potential arises from value-added services such as water-softening systems or energy consulting. The young company quintupled its revenue from 2024 to 2025 and plans to deliver projects in the high three-digit range in 2026. With the capital raised, nuuEnergy will accelerate the establishment and expansion of regional specialist craft businesses and further digitize the entire installation process.
In building regional craft businesses (“hubs”), sought-after skilled workers are attracted through modern software tools and attractive working conditions. nuuEnergy therefore positions itself between traditional craft enterprises and digital ‘neo-installers’. Currently, nuuEnergy’s master technicians and installers operate in the greater Munich, Hamburg and Cologne areas, within a radius of approximately 1.5 hours. In some regions, they also collaborate with long-standing, vetted partner companies. Fully digitized processes and specialized system planners on site ensure individualized technical planning for each building, maximizing the efficiency of the new heating system.
What Founders are Saying:
Tobias Klug, co-founder of nuuEnergy, said: “Our customers want a local partner who guides them through the entire process, with the highest quality in planning, installation and service. With the Cooperative Financial Network and EnjoyVenture, we now have additional strong partners on board who support the development of our business model with both capital and expertise. Cooperative banks can also provide our customers with tailored financing solutions and give further momentum to the local heating transition.”
Julia Rafschneider, co-founder of nuuEnergy, adds: “This strengthens our regional, quality-focused approach. Ultimately, our craftspeople, the heart of our company, benefit as well.”
Investors THoughts:
Björn Schmuck, Managing Director of amberra, said: “With our investment in nuuEnergy, the Cooperative Financial Network is actively shaping the energy-efficient modernisation of residential buildings in Germany. The collaboration with the start-up enables the Volksbanken Raiffeisenbanken to combine regional value creation with digital financing processes. What particularly impressed us about nuuEnergy is its close cooperation with local skilled trades businesses – and, by extension, with the customers of our banks.”
Gerrit Gnisa, Investment Manager at EnjoyVenture, commented: “With many LPs deeply rooted in the SME sector themselves, we strongly believe in nuuEnergy’s mission and positioning to make genuine quality scalable. With nuuEnergy, I can say with a clear conscience: I would buy a heat pump from them myself. The team is not focused on digital sales alone, but on delivering real, long-term innovation in skilled trades and engineering.”
HTGF has deliberately decided to make a follow-on investment in the Munich-based company. Johannes Weber, Principal at HTGF, said: “We see significant potential. The heat-pump market has clearly regained momentum, and nuuEnergy offers a compelling solution: working hand in hand with the craft sector, a scalable model is emerging that enables millions of households to switch to heat pumps while maintaining high quality.”
