syte, an AI-driven solution for the real estate industry founded in 2021, has recently raised around €5 million in a seed funding round aimed at accelerating the digitalization and decarbonization of the property sector. The round was led by companies from the Schwarz Group, with additional investments from Vantage Value, CVC vent.io, and existing investors like High-Tech Gründerfonds (HTGF), serial PropTech founder Moritz Luck, and property entrepreneur Fabian Axthelm.
The fresh capital will be used to enhance syte’s AI-based data platform, which provides comprehensive property data in real-time to banks, estate agents, developers, and planners. The platform offers insights into property searches, construction potential, project calculations, and energy efficiency, empowering users to make informed decisions at the early stages of real estate planning.
“We are extremely proud to have the Schwarz Group companies and other new investors as strong partners at our side,” says David Nellessen, founder and CTO of syte. “This investment is a vote of confidence in our vision and technology. With their support, we can further expand our innovative strength in the field of artificial intelligence and reach more companies in the property industry.”
One of syte’s latest innovations, “syte Renovate,” simplifies renovation planning by calculating optimal renovation scenarios without requiring extensive data input. The tool helps users evaluate renovation costs, available subsidies, and energy efficiency, making sustainability a core component of investment decisions. It also allows users to create refurbishment roadmaps for entire property portfolios and identify buildings that can be renovated cost-effectively.
In addition to private investment, syte has secured €800,000 in public funding for its “ENERsyte” project, part of the Grüne Gründungen.NRW competition. The project aims to streamline municipal heating planning by providing accurate data on energy requirements for buildings across Germany, reducing planning time by up to six months.
Matthias Zühlke, co-founder and CEO of syte, highlighted the importance of this investment for the company’s growth: “The expertise and support from our investors will enable us to significantly scale our development and sales efforts, further enhancing our product offerings like ‘syte Renovate’ and becoming a go-to resource for property information.”
