Cologne-based climate-tech startup Vamo, founded by Laurenz Ohlig, Falk Hantl and Jan Ossenbrink, aims to massively accelerate the transition towards green heating in Germany by focusing on heat pumps. With a combination of great vision, solid model and strong traction since its market launch in February, the startup was able to win over three experienced VCs and raise a total of three million euros in a seed round. The newly formed VC Realyze Ventures is leading the round.
With neosfer, the Commerzbank venture arm based out of Frankfurt am Main, and with caesar. Ventures from Munich, two investors with a lot of fintech experience are joining as followers. In addition, the founders were able to win over several industry veterans as angel investors, such as Tobias Schütt (DZ-4), Valentin Sawadski (Tado), or Maximilian Schroeren (Enter). A number of well-known faces from the German start-up scene such as Hanno Heintzenberg (McMakler, MAYD), Florian Huber (United Domains, Neubau Kompass) and Gunnar Froh (Wunder Mobility) had provided the team with initial funding last winter.
Laurenz Ohlig explains where Vamo’s sole focus on heat pumps comes from: “If you take a sober look and compare the different solutions for sustainable heating, you quickly find that the heat pump is the only scalable technology for decarbonizing the building sector in a timely manner. The technology is mature and readily available. What we lack in Germany is sufficient speed in deploying these systems and retrofitting our building stock.”
Besides selling heat pumps to private end customers against payment upfront, Vamo also offers an all-round carefree subscription for air-to-water heat pumps. Falk Hantl: “Unlike a solar system, which is an optionality, no one can do without heating, so it’s a mandatory investment. In addition: If ypur solar system fails, you always have the power grid as a natural backup. If your heating system fails, your apartment and shower remain cold, so availability has an inherent value. In addition, offering an end-to-end heat pump system for 0€ upfront, we take the only remaining argument against a heat pump out of the race and ensure that our customers don’t have to worry about the new technology. Because we take care that the system runs and runs and runs.”
The growth capital will go toward scaling the core business. Vamo relies heavily on its own installation teams, which receive training and development at an in-house academy. As one of only a handful of companies in the German market, Vamo has earned the label of “specialized heat pump installer”. The seal is awarded by the German Heat Pump Association and stands for special technical know-how and craftsmanship in the design and installation of heat pumps.
In addition to the consistent digitalization of the sales, logistics and installation processes, Vamo is also working on its own software for the operation of heat pumps. Dr. Jan Ossenbrink: “All Vamo heat pumps are digitally connected in real time. This allows us to catch errors before they occur. And: we can remote-control the systems so that our customers receive minimal electricity costs. The intelligent interaction of all heat pumps in our heat fleet also helps keep our power grid stable at all times and ensures that we can integrate as much solar and wind as possible.”
