Stuttgart-based innovation powerhouse, Metergrid, has just ignited the energy sector with a groundbreaking €2.7 million seed round. The driving force behind this investment is a vision to empower landlords to become energy producers, ultimately propelling Germany towards a greener future. The seed round, led by 468 Capital and featuring participation from VC trailblazer Tiny Supercomputer Investment Company, the recently formed Mätch VC in Baden-Württemberg, and even acclaimed footballer Mario Götze, marks a significant step in reshaping the energy landscape.
The German housing market is a complex tapestry, with over 44 million people, more than half the population, residing in private rentals. However, the fragmented nature of the market often leaves landlords with limited options to enhance their properties. Despite this, the tide is shifting. Regions like Baden-Württemberg, Hamburg, and Berlin are pushing for sustainability, requiring solar installations on new buildings. Additionally, state and federal regulations are driving a sustainability agenda, impacting tenant expectations.
Metergrid's mission is to bridge the gap in this fragmented market. Julian Schulz, the founder and managing director of Metergrid, emphasizes the need for decentralized solutions in the energy transition. He believes that "to achieve our ambitious climate goals, we must engage multi-apartment building residents throughout Europe. Our intelligent solutions span the entire value chain and aim to transform the market."
Metergrid's innovative solution simplifies energy production for both landlords and tenants. Their cutting-edge SaaS platform seamlessly integrates with existing systems to create an end-to-end solution. In essence, it transforms landlords into small-scale power providers. Metergrid's platform manages everything from measurement and administration to billing and contracts between landlords and tenants. It even handles complex transactions with the national grid, ensuring a steady energy supply, and selling surplus energy to benefit both landlords and tenants.
Although Metergrid's team comprises just ten individuals working remotely in Stuttgart and Hamburg, they have already made significant strides since entering the market a year and a half ago. On track for a seven-figure annual turnover, they aim to provide green electricity to 25,000 tenants by the end of 2024.
The recently secured funding will be instrumental in scaling their operations, with a grand vision to provide affordable and decentralized green energy to the 22 million rental apartments within 3.4 million separate properties in Germany.
Their ambition knows no bounds. Johannes Mews, co-managing director, envisions equipping six million multi-apartment buildings by 2028.
Metergrid's solution brings benefits to all stakeholders. Landlords can expect returns ranging from 6% to 15% on their investment, while renters enjoy energy costs that are 10% to 30% lower than conventional grid energy. Furthermore, the transition to green energy is a positive step towards a sustainable future, benefiting society as a whole. Metergrid aims to be a catalyst for change, fostering a win-win-win scenario for property owners, tenants, and the environment.