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From Install to Impact: Why we invested in Vamo to transform residential green heating
- Specialized players like Vamo can enter the significantly fragmented and burgeoning heat pump installation market now and successfully consolidate and grow with their high-quality “green heating swap” for poorly-installed heat pumps. Buildings in Europe account for over a third of its greenhouse gas emissions because of residential heating, and heat pumps promise a greener solution. In Germany, roughly half of heat pumps are poorly installed, and skilled installers are in short supply. Vamo's trusted network of highly-skilled installers, along with remote monitoring technology and HeatOS™ software, boost its installations' operational efficiency and gather optimization data, resulting in tangible cost savings the industry has thus far failed to attain.
- Vamo's unique service value proposition streamlines the customer journey from lead to heat and efficiently manages the intricate supply chain, thus reducing time spent on non-installation tasks for installers and freeing up valuable resources. Vamo collaborates with small, local installation companies to leverage their assets for the company's acceleration and scaling. For heating the fleet, Vamo is rapidly expanding its network of interconnected heat pumps. Germany’s heat pump installations currently lag behind the ambitious targets set by Minister Robert Habeck, but it remains a promising decarbonization opportunity. The round raised 7m EUR funding to boost Vamo’s partner network growth and accelerate the development of Vamo's Heat Fleet™
- With Vamo's exceptional product-market fit and its promising impact on carbon reduction, Extantia announced its lead role in a €7M oversubscribed seed extension round alongside other investors. Vamo hopes to cut emissions by 169.6 Mt CO2e annually by 2050, which could save between 0.9 to 4.8 Gt CO2e per year worldwide.
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