Berlin-based GALVANY has closed a €10M seed round led by SET Ventures and AENU.
The heat pump platform grew revenue sevenfold to €20M in 2025 and closed the year profitable.
The capital will go toward multifamily housing, AI-driven energy management, and a broader installer network.
Germany wants to replace around 20 million gas and oil boilers with heat pumps. The technology is proven, the subsidies exist, and yet heat pump sales in Germany fell almost 50% in 2024, the second consecutive year of sharp decline, driven by subsidy rule changes, installer shortages, and economics that still do not add up for most homeowners.
GALVANY was built on the premise that the problem is not the hardware.
