Growth turbo for the heating transition: nuuEnergy raises €4.3 million to revolutionise the heat-pump market with craft expertise

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.

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 digitise 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 digitised processes and specialised system planners on site ensure individualised technical planning for each building, maximising the efficiency of the new heating system.

“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,” says Tobias Klug, co-founder of nuuEnergy. “This strengthens our regional, quality-focused approach. Ultimately, our craftspeople—the heart of our company—benefit as well,” adds Julia Rafschneider, co-founder of nuuEnergy.

With our investment in nuuEnergy, the Cooperative Financial Network is actively shaping the energy-efficient modernisation of residential buildings in Germany,” says Björn Schmuck, Managing Director of amberra. “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.”

“With many LPs deeply rooted in the SME sector themselves, we strongly believe in nuuEnergy’s mission and positioning to make genuine quality scalable,” says Gerrit Gnisa, Investment Manager at EnjoyVenture. “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: “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,” says Johannes Weber, Principal at HTGF.

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About nuuEnergy
Founded in 2023, nuuEnergy specialises in the planning and installation of heat pumps. With a unique business model, the company combines the advantages of digital processes with the quality and customer proximity of traditional craft businesses. Its goal is to make the transition to climate-friendly heating as simple, efficient and high-quality as possible.

For more information, please visit www.nuuenergy.com.

About amberra and the amberra fund
amberra is the corporate venturing studio of the Cooperative Financial Network Volksbanken Raiffeisenbanken. Founded in 2023, amberra is building an ecosystem of bank-adjacent and non-bank services for cooperative banks—through investments and partnerships with start-ups as well as the development of its own ventures together with partners from the cooperative network. The company focuses on the life domains of housing, health, sustainability and regional economy.

The basis for amberra’s investment activities is the amberra fund, with a target volume of €100 million. Following investments in the real-estate platform Impleco/Wohnglück, the education start-up ubimaster, and the health start-ups Lillian Care and Gardia, the fund now expands its portfolio with nuuEnergy into the sustainability domain.

For more information, please visit www.amberra.de or follow us on LinkedIn.

About EnjoyVenture
EnjoyVenture is one of Germany’s oldest venture-capital funds, providing early-stage financing to technology and growth companies for 25 years.

For more information, please visit www.enjoyventure.vc.

About HTGF – High-Tech Gründerfonds
HTGF is one of the leading and most active early-stage investors in Germany and Europe, financing startups in the fields of Deep Tech, Industrial Tech, Climate Tech, Digital Tech, Life Sciences and Chemistry. With its experienced investment team, HTGF supports startups 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. Since its inception in 2005, HTGF has financed around 800 startups and achieved 200 successful exits. HTGF has a fund volume of over 2 billion euros. Fund investors in the public-private partnership include the Federal Ministry for Economic Affairs and Energy, KfW Capital as well as 45 companies and family of-fices.

For more information, please visit HTGF.de or follow us on LinkedIn.

About better ventures
better ventures is Europe’s leading alliance for impact entrepreneurs. The network has invested in more than 45 impact start-ups with over 80 entrepreneurial angels, focusing on scalable business models that combine impact and return.

For more information, please visit www.betterventures.io.

About Vireo Ventures
Vireo Ventures is a Berlin-based early-stage fund specialising in European start-ups in energy and electrification.

For more information, please visit www.vireo.vc.

About Bynd
Bynd is a leading Iberian Venture Capital firm with focus on investing in pre-seed and seed tech startups with 70+ investments realized across sectors and industries since 2010.

For more information, please visit www.bynd.vc.