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August 25, 2023

DREM Secures €2M Boost for European Heat Pump Expansion

DREM raises €2M to heat up green homes across Europe, capitalizing on a market with great potential

In a dynamic move to transform European home heating, Swedish heat pump platform DREM has clinched €2 million in funding from Peak, propelling its ambitious expansion plans. DREM, already igniting the Swedish market with innovative solutions, now sets its sights on bridging the heat pump gap in other European nations.

As temperatures rise, so does DREM's influence. Flourishing in the Swedish landscape, the startup has harnessed the momentum of a homeowners' grant for eco-friendly heating alternatives. Armed with digital pricing algorithms, virtual home consultations, and an installer marketplace, DREM has enabled accessible, cost-effective home heating solutions.

Born in 2022 from the minds of Babak Tighnavard, Hannes Palm, and David Sennerlöv, DREM has amassed recognition for its vision. The startup's approach harmonizes technological capabilities with the surging demand for greener heating alternatives.

The heartbeat of DREM's expansion journey is to conquer European frontiers, extending its transformative model beyond its Swedish origins. Babak Tighnavard, CEO and co-founder of DREM emphasizes the significance of this funding infusion: "Financing at this stage is a significant boost for DREM. We are digitizing and streamlining installations at a time when people are seeking alternatives to natural gas and electricity, as prices are on the rise, and at the same time want to take responsibility for the environment and their energy consumption."

DREM's allure lies in its commitment to simplifying the industry landscape, empowering installers to focus on their craft rather than customer acquisition. Indra Sharma, Partner at Peak, aptly captures DREM's potential: "The DREM platform streamlines the industry so that installers can focus on performing the actual work of installing rather than having to spend time on acquiring customers and marketing themselves. The potential for the European market is enormous, as DREM's model balances the shortage of installers and facilitates households' transition."

A telling statistic underscores the urgency of DREM's mission: while Sweden boasts a 50% household adoption rate of heat pumps, the rest of Europe lags significantly at below 10%. This chasm signifies untapped potential, a domain where DREM's approach and Peak's backing converge to redefine heating costs.

As DREM sets its sights on warmer horizons, the €2 million investment marks a pivotal juncture, fanning the flames of its European aspirations. The stage is set for a transformative journey, one where eco-conscious homes and streamlined installations become the norm, forging a path toward a greener future.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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