Germany-based property technology provider aedifion announced that it has raised €17 million ($USD19.7 million) in a Series B financing round, with proceeds aimed at expanding its solutions to cut real estate CO2 emissions and energy costs.

Founded in 2017, Cologne-based aedifion provides software solutions for optimizing building performance. The company’s AI-powered cloud platform helps real estate owners and operators to reduce energy consumption, CO2 emissions, and operating costs of buildings, by collecting real-time operational data, identifying malfunctions, providing recommendations for operational optimization, and autonomously managing building operations based on real-time data such as weather forecasts and user behavior.

The company currently manages nearly 500 buildings, encompassing more than 5.8 million square meters in Germany and across Europe, the UK and the US. According to aedifion, the company’s customers have been able to reduce their portfolio CO2 emissions by up to 40%.

The company said that the new capital will be used to accelerate its expansion across Europe, and to improve its smart building control platform, including updating its intelligent energy management solutions via AI-supported load optimization with demand side management, and the roll out of a generative AI-powered “virtual building assistant” that can receive and answer instructions and questions.

Dr.-Ing. Johannes Fütterer, CEO of aedifion, said:

“Smart buildings and artificial intelligence will play a crucial role in the energy transition. This new funding will enable us to further scale our solution and establish aedifion as the leading platform for the digital operational optimization of technical building systems throughout Europe.”

The Series B round was led by Eurazeo, with existing investor Drees & Sommer significantly increasing its commitment, and participation from other existing investors, including World Fund, BitStone Capital, Family Office Hopp, and Phoenix Contact Innovation Ventures.

Alice Besomi, Managing Director, and Raphael Cattan, Investment Director at Eurazeo, said:

“With this investment, via our Eurazeo Smart City Fund II, we are supporting aedifion’s mission to make buildings smarter and more energy-efficient. Their scalable platform is the easiest solution for asset managers to drive energy efficiency and emissions reduction across real estate portfolios. We’re excited to help scale their impact across Europe.”