Lithuanian Contrarian Ventures invested in Munich-based climate tech startup 42watt

Lithuanian Contrarian Ventures led the pre-seed round of Munich-based climate tech startup 42watt. According to public information, the deal is worth millions of euros. 

42watt also raised investment from the existing backers: Munich-based social impact VC BonVenture, real estate-oriented Proptech1, and private investors, such as Felix Jahn, a founder of German real estate transaction platform McMakler, and Christoph Behn, a founder of the German impact-oriented club of business angels Better Ventures.

Founded in 2021 by Marcus Dietmann and Joerg Ueberla, 42watt, operated by Enovato GmbH, is a platform that helps property owners create scenarios of renovation based on various data. The startup collects information about electricity consumption, the year of construction, transmission heat losses (U-values), etc. Then, it uses this data to create a 3D model of the house to simulate the energy potential of the project, such as heating load and PV coverage. 

In addition, the owners get recommendations on energy cost savings, subsidy amounts, return on investment, and payback period. For instance, the renovated project can receive BAFA funding for energetic modernization projects, including insulation improvements, heating system upgrades, and installation of renewable energy sources.

The German startup will use the investment to expand advice services for solar, heat pumps, and energy efficiency. 42watt's team plans to add more fee-based consultations for homeowners, who want to increase energy efficiency by renovating their buildings.

Established in Vilnius in 2017 by Rokas Pečiulaitis and Tomas Kemtys, Contrarian Ventures is a seed-stage venture company focused on investment in climate startups from Europe and Israel. The initial ticket ranges from €1,5M to €4M. The investment firm has offices in Vilnius, Amsterdam, and London.