Real estate software firm Deepki has bagged a €150m funding injection today as it looks to rollout its property data intelligence software to firms across Europe.
The London and Paris-based tech outfit, which provides real estate firms with data on environmental performance, said the need to rapidly decarbonise the sector presented it with a major opportunity in the coming years.
“The global real estate sector needs to act now if it is to halve its emissions by 2030 and meet the net zero target by 2050,” said Vincent Bryant, co-founder and boss of the firm.
“Today’s new funding announcement means that Deepki can make a greater impact and support even more asset owners in taking on the climate change challenge, and we are pleased to have our new partners Highland Europe and One Peak Partners, as well as Revaia and Bpifrance Large Venture on this journey.”
Bosses said they were now eyeing up a push into new markets alongisde their current presence in France, the UK, germany, Italy and Spain.
The fresh €150m funding was jointly led by Highland Europe and One Peak Partners, two London-based venture capital firms specialising in growth stage tech investments across Europe, with additional backing from Bpifrance and Revaia, as well as existing investors Hi Inov and Statkraft Ventures.
The real estate sector is currently responsible for around 40 per cent of global carbon emissions, and bosses at Deepki said more than $5tn of investment is needed each year to decarbonise the sector and hit its commitment of net zero by 2050.
Co-founder and COO of Deepki Emmanuel Blanchet said a growing awarenss of the scale of the issue was already seeing value shaved off properties.
“Commercial real estate with poor ESG performance is already being affected by brown discounting and greater focus is being placed on properties which can adapt to more stringent requirements in terms of carbon emissions,” he said.
“As a result, we are seeing rapidly growing demand for our technology.”