Contrarian Ventures, Bonventure, PropTech1 Ventures, the founder of McMakler and other angels recently invested a mid-single-digit million amount in 42 watts. Now also Obi Squared as an early-stage investor and is expanding its seed financing by an undisclosed amount. Founded in 2021, Munich-based Climatetech positions itself as a digital energy consultant for the climate-neutral renovation of existing properties.
In addition, the home improvement brand Obi and 42watt are entering into a long-term partnership. Obi now offers its customers a central contact point for all questions related to energy-efficient home renovations. And thanks to Obi's high brand awareness, 42watt is opening up new sales channels in the DIY sector. Jörg Überla, Co-founder and CEO of 42watt, says:
"Obi's investment in 42watt is not only a vote of confidence, but also a joint effort to sustainably upgrade and renovate homes. Our product and our expertise are used wherever people of all ages seek advice for their own homes: in the Obi DIY store environment."
Manuel van de Kamp, Chief Product Officer at Obi, comments on the cooperation:
"Our partnership with 42watt is a holistic and, above all, sustainable investment to actively advance the energy transition and participate economically. 42watt has one of the best products currently on the energy renovation consulting market and fits perfectly into the existing customer journey between the basic needs assessment for energy renovation and the in-house network of tradespeople in one of OBI's most strategically important areas."
"42watt currently offers the most exciting and innovative product in the field of energy-efficient renovation. The team's implementation and excellent consulting significantly increase the likelihood of renovation projects being implemented,"
thinks Felix Weber, Head of Corporate Venture Capital at Obi Squared. The major advantage of investing in a startup compared to internal project development within a company is the significantly shorter time to market and the development of a product that focuses exclusively on customer benefit without any constraints.
