⦿ INSIGHTS

Tackling Climate Change, One Household at a Time

Investing in a greener future with DREM - Accelerating the deployment of heat pumps
Tackling Climate Change, One Household at a Time
WRITTEN BY
Sara Rywe
Partner
WRITTEN BY

Residential energy use accounts for about 20% of all greenhouse gas emissions in the western world. For us to have any chance of reaching net zero, all households will need to rapidly reduce emissions. We have earlier already taken action towards that goal with our investment in Greenely, helping homeowners become aware of their energy consumption and act smartly to reduce it. Today we’re happy to announce that we’re making a second investment in the space. With this investment, we want to help speed up the transition of replacing old-school and environmentally harmful heating systems with eco-friendly heat pumps.

In the UK alone, the Climate Change Committee has suggested that one million heat pumps will need to be installed per year in new and existing homes by 2030 (Figure 3.2.c) to reach net zero targets. And beyond the serious need for a solution from an environmental perspective, the demand for home energy renovations is also on the rise since households seek to combat the sky-rocketing gas prices.

Source: The Sixth Carbon Budget - The UKs path to net zero 

Heat pumps need to be deployed, quickly

Luckily, many initiatives are already in place to ensure that heat pumps get deployed sooner rather than later. The European Commission's REPowerEU initiative aims to install 30 million new heat pumps by 2030, saving the EU 35 billion cubic meters of gas consumption per year. Moreover, governments are introducing regulations and incentives to support the transition to environmentally friendly heating solutions, such as the UK government offering £5,000 grants for 90,000 households to install heat pumps and other low-carbon heating systems over the next three years. Furthermore, Germany has decided that any new heating system installed after January 1, 2025, must run on renewable energy, and France is shifting subsidies to support the installation of new heat pumps. 

In the US, the Biden administration even considered “a wartime industrial effort to mass-manufacture heat pumps and ship them across the Atlantic to help Europeans wean themselves off Russian gas.”

The issue: the process of buying heat pumps is broken

Getting a heat pump installed is inefficient, with installers using outdated, offline sales processes, leading to slow and expensive deployment. This leads to an alarming imbalance between consumers’ demand and need of our planet versus actual supply. Drem is here to change that.

The Dre(a)m founders - pun intended 🙃 - Babak, Hannes, and David, have created a marketplace and platform for deploying distributed renewable energy, starting with heat pumps. Think of it as a one-stop shop that radically improves the consumer experience of buying and owning a heat pump. This includes a customer-centric online sales journey with support from an in-house sales team, complete with algorithmic pricing, and an installer marketplace that gives installers access to home renovation projects.

byFounders leads the pre-seed round in Drem

We are thrilled to lead the pre-seed round in Drem alongside a prominent group of investors such as Tane Fund by Redstone, Wiski Capital spearheaded by Monika Inde Zsak, prominent angels, and a US-based climate fund led by Robert Pollak (prev. Partner at SV Angels) including notable names such as Marc Benioff (CEO of Salesforce), Ron Conway (founder of SV Angels), Jeff Wilke (former #2 at Amazon), David Wallerstein (senior executive at Tencent leading all climate initiatives), Michelle Wilson (former General Counsel of Amazon), and Fred Hu (first angel in Alibaba and Tencent).

As you know from above, the decarbonization of homes represents a massive market opportunity that is expected to see exponential growth in the next decade. The Drem team is perfectly positioned to capture this market opportunity with their complementary skills, focus on execution, and relevant experience from leading European commercialization at a fast-growing VC-backed solar panel startup. 

It’s a rare opportunity to support a team on such a valuable mission, and we can’t wait to see what the future holds!

And by the way, they’re hiring! See job opportunities here.

More about the author(s)
Sara Rywe
Partner

Sara oversees our investments in Scandinavia - focusing primarily on Sweden, Norway, and Denmark - and has a particular interest in the future of work and FinTech. Her strong interest in social impact (and diversity!) is something that she continues to focus on here at byFounders and she is the mastermind behind our ‘impact-aware’ strategy.

More about the author(s)
No items found.
External
September 25, 2023

Introducing QA.tech: Transforming QA Testing with AI

QA.tech is building the first Autonomous QA Tester – to create a future of reliable and bug free applications built by both humans and artificial intelligence
External
September 3, 2023

Redefining Kubernetes with Rig.dev's Open-Source Application Platform

Announcing Rig.dev's $2.2M pre-seed round
External
August 24, 2023

Our Investment in Jellatech: the Future of Sustainable Proteins

Jellatech is pioneering the ethical and sustainable production of complex proteins like collagen through cellular agriculture
External
February 23, 2023

Cutting Through Workplace Noise

Creating the right context for productive work with AI-powered summarization
External
February 22, 2023

Building the go-to platform for investing in culture‍

OWND abstracts away the complexity of purchasing NFTs by lowering the technical, financial, and social barriers. This allows fashion enthusiasts and sneakerheads to purchase, trade, and collect fashion NFTs, including physical items from leading brands such as Nike, Adidas Originals, Gucci, Prada, to name a few. And they are just getting started. 
External
February 3, 2023

Tackling Climate Change, One Household at a Time

Investing in a greener future with DREM - Accelerating the deployment of heat pumps
External
January 25, 2023

Our investment in Supernormal: ​​The future of cognitive computing

Supernormal uses a fine-tuned Large Language Model to automatically generate meeting summaries, decisions, and action points.
External
January 11, 2023

We invested in Francis: the efficient spreadsheet giving business leaders their time back

Too often, we see small business owners hurting from the stress of financial uncertainty. We see them learning the hard way (and often too late) that they should’ve invested in tools that bring visibility to their finances, and they should’ve asked for support to help make the right strategic financial decisions in a timely manner.
External
January 8, 2023

byFounders invests in Watalook - revolutioning the beauty industry with its all-in-one platform

Watalook offers a comprehensive platform that caters to the unique needs of independent beauty professionals, allowing them to manage their clients, brand, and finances all in one place.
External
October 31, 2022

byFounders and Creative Force team up to bring leading e-commerce brands industry-changing solutions

Creative Force’s mission is to streamline and enable creative operations for leading e-commerce brands and online retailers. In a nutshell, they automate manual tasks so the creator can focus on creativity.
External
September 22, 2022

byFounders leads the €2.3 million pre-seed round in Cello: supercharging product growth by making word-of-mouth rewarding

Cello is the world’s first user-led growth platform that helps businesses to harness their most passionate users to drive word-of-mouth growth at scale.
External
July 8, 2022

Our investment in Salto X: the platform enabling token incentive plans for remote companies

“The main bottleneck for European startup growth is not the lack of capital, it’s the lack of talent!” This sentence has been said by many and I’m now stating it again because it’s sadly the truth. If we are serious about wanting Europe’s tech scene to thrive (and one day be on par - or better - than the US) then we need to drastically improve our ability to attract and retain talent.
External
May 20, 2022

Aumio raises €3 million to support children’s mental health through playful learning

We’ve been truly excited by the emergence of parenting tech for a while now, and supporting children and their parents in dealing with mental health struggles is a mission we obviously want to stand behind. We’ve been actively looking for the right combination of a product market fit and founder drive. When we came across Aumio - a unique sleep and mindfulness cosmos for children - jumping onboard was a no-brainer for us. Let us tell you why. 
External
May 5, 2022

Januar raises €6 million in seed funding startup to build financial infrastructure for crypto economy

Danish financial infrastructure partner for crypto businesses Januar has raised €6 million in funding. Januar will use the new funding to roll out its crypto-friendly financial services for businesses across Europe, starting with payment accounts for crypto businesses.
External
December 17, 2021

London-based Fuzey, the digital one-stop-shop for SMEs and independent contractors, raises a €4m seed round

We’re so proud to lead the €4m seed round in London-based Fuzey: the all-in-one messaging platform that centralizes small businesses’ communications, payments, marketing, and calendars. 
External
November 2, 2021

Our Investment in Monta: Powering the EV Ecosystem

We invested in Monta in March this year. Since then, Casper and Anders and the rest of the team have not looked back and we are firm believers in Monta being on track to be the dominant EV charging platform in Europe and beyond. Here’s why:
External
October 29, 2021

Why we Invested in PipeBio: no-code SaaS for bioinformatics and drug development

The human costs of the pandemic forced the scientific community to rethink how processes, such as drug development, can be done 10x faster than before. PipeBio is at the frontline of that development.
External
September 10, 2021

Why We Invested in Januar: Financial infrastructure for crypto companies

For too long crypto native companies have been lacking a stable and secure banking foundation to run their businesses from without the fear of being shut down by their, presumed, banking partner. Enter Januar.
External
June 22, 2021

Why we invested in GamerzClass

When first meeting Victor Folmann and listening to a very candid podcast episode he did on Iværksætterhistorier we learned that Victor’s entrepreneurial career started already in his teens. He quickly realized that he had a knack for sales; whether it was vegetables or cell phones didn’t matter; you had something to sell; he was your guy.
External
June 18, 2021

Why We Invested in Smitten

Having been a long-time user of dating apps, I was intrigued when we got the tip that there was a brand new super-hot dating app in Iceland. I wasn’t sure what to expect, but after meeting David, understanding his background and vision for the product, and being blown away by his charisma and displayed drive, I was sold.
External
June 17, 2021

Why We Invested in BonBot

At byFounders, we are a team of enthusiastic foodies. So, when we heard about BonBot: a modular retail food concept with a mobile front-end and a robot-powered store, we knew we had to meet the talent behind it. Learning that BonBot was founded by extremely impressive King veterans made us even more intrigued.
External
May 23, 2021

Bob W is climate neutral

What’s climate neutrality, you ask? It’s similar to being ‘carbon-neutral’ but considers all climate-warming gases, not just carbon dioxide. Our Portfolio company, Bob W, is reducing their impact on the environment by double offsetting their emissions and working to emit less in the first place.
External
May 12, 2021

Contractbook closes Series B to lead a revolt against PDF’s!

We are revolutionizing the existing online contract signing tools of today by creating the contract management platform of tomorrow and showing people that simple PDFs are an impediment to today’s efficient work environment,” says Contractbook founder and CEO Niels Martin Brochner.
External
May 4, 2021

Tame raises €4.6 Million in seed round

The funding is expected to power up the headcount at Tame, with more than 35 positions now up for grabs, and aggressively target and expand in the UK market. The company is also projecting revenue growth of 4-5x in 2021, which would then put them in the black, and be primed for a large A round in Q1 of 2022.
External
April 15, 2021

Monta secures $4.9 million to provide access to charging stations for all

Meet the newest member of our Portfolio: the next-generation app for EV charge point management and optimization - Monta. Founded by dedicated engineers and tech-minded professionals, the €4 million will enable them to enter 10 new European markets and hire new colleagues. (DK)
External
April 13, 2021

Google endorses Normative, who automates climate impact work

With its software, Swedish Normative visualizes the climate impact of a company's actions and suggests ways of addressing and improving it. Financial support from Google means that the company is ready to expand its services. (SWE)
External
April 9, 2021

Bob W raises $11 million for apartment hotels

During the pandemic, Bob W has reached occupancy rates as high as 90% at its properties in Estonia and Finland. They've now secured their first apartments in London and is opening properties in central Helsinki this Spring. “Despite the pandemic, our revenue grew significantly in 2020,” said Niko Karstikko, CEO and co-founder. Bob W expects to double its headcount this year.
External
March 19, 2021

Why We Invested in Digitail

"There are few things with my job that I appreciate more than when people drastically surpass all my expectations!" - Sara Rywe, Investor here at byFounders, was so impressed by the founder's tenacity, extraordinary grit and structure, she knew we absolutely needed to be part of their journey.
External
March 17, 2021

Digitail raises $2.5 million and expands to the US

The platform is currently improving the workflow of more than 2,000 veterinarians in 16 countries. Its integrated customer app has enabled 500,000 pet parents to access all their medical information in real-time and to connect with their vet instantly.
External
March 11, 2021

Proper closes a $4.6 million seed round

Proper has made strides toward establishing itself as the preferred platform among landlords in Denmark. Today, over 3,500 leases are managed through Proper, resulting from a growth rate exceeding 200% in 2020. The service handles all day-to-day administration, payments, bookkeeping, communication with tenants, and more. 
External
February 21, 2021

Why we invested in Proper

At byFounders, we instantly got excited about the idea of building a digital property manager that automates all manual tasks while also ensuring that the property owner and landlord feel in control. More importantly, we were captivated by the founders.
External
January 22, 2021

SafetyWing raises $8 million to expand its health insurance for ‘Digital Nomads’

SafetyWing, a Norwegian startup providing health insurance to remote and gig economy workers, has raised $8 million to expand its product offerings. The company operates in the burgeoning field of insurtech and provides insurance cover to remote workforces, or ‘digital nomads’, through its Remote Health product, especially those working across borders and in different jurisdictions.
External
December 9, 2020

Contractbook raises $9.4 million in Series A funding

Contractbook, an end-to-end contract lifecycle management platform, raked in $9.4 million in its Series A round, led by Bessemer Venture Partners.The Copenhagen-based software company will use its new funding to "aggressively" enter the US market, and take on existing players in the contracts space, like DocuSign.

Delete me when done