Existing and new investors trust Gropyus’ business model with wooden hybrid apartment buildings, which the start-up delivers on a turnkey basis from a single source. Existing investors as well as the Portuguese investment holding Semapa and the US fund Pracitical Venture Capital are contributing around 100 million euros.
In addition, there is a loan of 40 million euros from the European Investment Bank, which Gropyus received approval for in March this year.
“The climate crisis and the lack of affordable housing are becoming more and more acute. We want to use our technology to make a significant contribution to solving the housing and climate crisis,” says Markus Fuhrmann, co-founder and company boss. In order to achieve this, a “high capital investment” is necessary. With the latest financing, the total equity investments amount to more than 300 million euros.
Location in Steinhaus
Fuhrmann, who also made the food delivery service Lieferheld/Delivery Hero big, founded Gropyus with colleagues in 2019. The company has locations in Vienna, Berlin, Richen in Baden-Württemberg and in Steinhaus in the Wels-Land district.
Gropyus is now using the money for further expansion. The digitally controlled factory with 50 robots in Richen is being expanded, the technology is being further developed, and the next construction projects are being implemented. The expansion of the plant in Richen is expected to be completed by the end of the year. According to Gropyus, it will then be able to produce a wall and ceiling element in around 16 minutes each. The annual production capacity is more than 3,500 apartments.
Several projects are currently underway in Germany, including one in Berlin with 27 residential units and one in Immendingen in Baden-Württemberg with 99 residential units.
