Around 5 million euros for the AI-based data platform in the property sector: syte secures fresh capital in seed round

September 26, 2024

Münster, 26 September 2024 – syte, the winner of the German AI Award 2023 in the ‘Start-up’ category, has successfully raised around 5 million euros in a seed round. The fresh capital will support syte in its mission to digitalise and decarbonise the real estate industry through an AI-based data platform and B2B SaaS.

The financing round was led by the companies of the Schwarz Group. The two other new investors, investment company Vantage Value and CVC vent.io, as well as existing investors High-Tech Gründerfonds (HTGF), PropTech serial founder Moritz Luck and property entrepreneur Fabian Axthelm also participated in the financing round.

With the three new investors, syte has gained further strong partners providing different added benefits. The Schwarz Group companies contribute their extensive expertise as one of Europe’s largest retail groups and major property companies. Vantage Value brings extensive experience in the property sector and in building technology companies. vent.io, the digital innovation unit of the Deutsche Leasing Group within the Sparkassen-Finanzgruppe, supports syte with its in-depth understanding of and access to target customers.

‘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.’

Based on AI and in real time, syte already offers banks, estate agents, project developers, planners and authorities all the data and potential for any property – from property searches, construction potential and project calculations to energy and photovoltaic potential. The focus of the previous product is on the holistic digitalisation of the real estate sector at an early planning stage.

The new product “syte Renovate” revolutionises renovation planning by calculating the optimal scenarios for each property without the need for time-consuming data input by the user. Pre-selected renovation measures can be modified to meet specific requirements, while cost restrictions, information on subsidies and savings as well as assessments of energy efficiency contributions help users to make optimal decisions. Sustainability thus becomes a relevant component in investment decisions. syte also makes it possible to create refurbishment roadmaps for entire property portfolios and to search for properties across Germany that can be refurbished particularly economically.

In addition to the investor funds, syte secured 800,000 euros for the ‘ENERsyte’ project as part of the ‘Grüne Gründungen.NRW’ funding competition. This project is developing comprehensive digital decision support for municipal heating planning. The aim is to reduce the process duration by up to six months. This involves developing as accurate a picture as possible of all existing buildings in Germany in order to determine the best possible energy requirements today and in the future. In addition to syte, the Münster University of Applied Sciences and RWTH Aachen University are also involved in the project

‘We are delighted with the trust placed in syte by our new and existing investors,’ says Matthias Zühlke, founder and CEO of syte. ‘Their market expertise, their industry network and their investment will enable us to significantly expand our development and sales structures. This will accelerate our growth and create even greater added value through product enhancements such as ‘syte Renovate’ for our customers as the first point of contact for all information relating to properties and buildings.’

About syte
The PropTech start-up syte and its 23-employee team offer an AI- based software solution that identifies the development potential of plots of land and buildings in real time. This enables planners and authorities, amongst others, to find out without time-consuming research where new living space can be created by adding storeys (without further land sealing) in the most resource-efficient way possible.
Based on AI and in real time, the platform is already today offering banks, estate agents, project developers, planners and authorities all potential and data on the property – from property searches to construction potential, project calculations and energy and photovoltaic potential. A particular focus of the existing product and the other planned features is on the holistic digitalisation of the sector and the renovation of buildings.

Contact details
syte GmbH
Bremer Straße 42
48155 Münster

Web: https://syte.ms
Press information: https://www.syte.ms/presse
Social media: LinkedIn | Instagram

Press contact
Lena Lüpping
Head of Marketing & Growth
+49 151 44903116
lena.luepping@syte.ms

About Schwarz Group
Schwarz Group is an international leader in the retail industry with about 13,900 stores and 575,000 employees in 32 countries. The total revenue of the companies of Schwarz Group for the 2023 fiscal year amounted to 167.2 billion euros. Divided into a production, retail and environmental division, the companies of Schwarz Group cover the entire value cycle. Lidl and Kaufland are its pillars in food retailing. Many private label products on Lidl’s and Kaufland’s shelves ranging from ice cream to beverages are produced directly at the Schwarz Produktion. PreZero, the environmental services provider, pursues its vision of closed loop recycling in waste and recycling management and thus contributes to a cleaner tomorrow. Schwarz Digits as IT and digital division offers compelling products and services, which comply with Germany’s strict data protection standards. Schwarz Dienstleistungen, the Group’s corporate services division, provides administrative and operational services.

About Vantage Value
Vantage Value is an entrepreneur-led investment company that provides venture capital to Digital Tech and Industrial Tech startups in the German-speaking region. With our own capital, we support founders and their companies that have the potential to shape the technologies of tomorrow.
Our independence is at the core of our actions. It gives us the freedom to think unconventionally and make bold decisions.
Vantage Value offers more than just financial support. We have built successful companies ourselves and bring deep expertise in business development, management, IT, and sales, particularly in precision manufacturing and real estate. We understand venture capital and use it strategically to drive the growth and development of our portfolio companies. We place special emphasis on building long-term value and see ourselves as sparring partners on the path to shared and sustainable economic success.

About vent.io
vent.io, the digital subsidiary of Deutsche Leasing AG, develops cutting-edge digital products and services while investing in innovative B2B start-ups. Its mission is to accelerate growth for Deutsche Leasing Group’s corporate clients, thereby contributing to the long-term strengthening of German Mittelstand.

On one side, vent.io actively drives the digital transformation of Deutsche Leasing and its clients by creating frontend software, MVPs, and data science solutions. On the other side, as the corporate venture capital (CVC) arm of Deutsche Leasing AG, vent.io invests in and partners with early-stage B2B start-ups, providing strategic support and resources. Through its strong ties to the Sparkassen-Finanzgruppe and other affiliated companies within its finance group, such as Deutsche Anlagen-Leasing GmbH, vent.io provides its portfolio companies with valuable market access and revenue opportunities within the for start-ups traditionally more difficult to reach German Mittelstand.

About HTGF – High-Tech Gründerfonds 
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing start-ups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports start-ups in all phases of their development into international market leaders. HTGF invests in pre-seed and seed phases and can participate significantly in later-stage financing rounds. Across its funds, HTGF has over 2 billion euros under management. Since its inception in 2005, HTGF has financed more than 750 start-ups and achieved over 180 successful exits.  
Fund investors in the public-private partnership include the German Federal Ministry of Economics and Climate Action, KfW Capital as well as 45 companies and family offices.  
For more information, please visit HTGF.de or follow us on LinkedIn.   

Media contact
High-Tech Gründerfonds Management GmbH
Tobias Jacob, Senior Marketing & Communications Manager
T.: +49 228 – 82300 – 121
t.jacob@htgf.de