Proptech & Contech Index Q2 2024 - Key Insights

In collaboration with our partner Salon Rent, we’ve worked on a new version of our Proptech & Contech quarterly Index for Q2 2024. Over this period, the Proptech & Contech ecosystem secured approx. €855 million in funding, doubling the amount raised both over the previous quarter (€480 million in Q1 2024) and on the same period last year (approximately €440 million over Q2 2023).

Highlights from Q2 2024

1. Increase in number of large rounds raised over Q2 2024

This quarter saw 12 startups raising more than €20M, with 5 rounds over €50M. This is a significant increase compared to the last quarter, which showed only 2 rounds above €20M (Enviria and NatPower). This surge explains the overall growth in total funds raised by European startups between Q1 and Q2 2024.

2. Energy and Impact capturing most investments 

Startups from the energy sector account for 54% of the rounds, up from 34% last quarter. The "Energy Storage and Trading" vertical represents 24% of rounds, with many startups focusing on grid management or tackling the battery value chain, especially in Germany and in the UK. Impact startups remain super dynamic and attractive for investors, with 69% of rounds raised by startups with ESG as core business, marking a 10% increase from Q1 2024.

3. France, United Kingdom and Germany at the top of European ecosystem

France led this quarter with 21 rounds identified and €277M invested. The UK, Germany, and France frequently switch positions in the ranking for the highest number of deals per quarter. All in all, these three countries collectively represent 63% of all identified deals in Europe over Q2. This figure remains in line with last year's (68%) and last quarter's (60%).

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Methodology:

The Proptech & Contech Index is based on data from Axeleo Capital as well as public databases, such as Crunchbase. These data sources mainly gather information on deals and rounds that have been publicly disclosed - many other raises are taking place, but without announcements or communications on amounts (so difficult to track). The analysis is limited to companies headquartered in Europe, and with a value proposition focused on the digitization of the Built Environment, with a focus on Real Estate (proptech), Construction (contech) and Energy (decarbonation & energy renovation). The recorded fundraising refers to equity venture capital fundraising  (i.e. excluding debt fundraising, subsidies etc.) when possible.

About Axeleo Capital:‍

Axeleo Proptech I is a €40M early-stage VC fund dedicated to proptech, contech and energy startups across Europe. Axeleo Capital is a venture capital firm active in the European early stage tech scene and supported by a large pool of entrepreneurs and investors. Axeleo Capital offers startup founders a unique support framework that combines equity investment, operational and strategic coaching, and an active ecosystem of more than 100 high-level partners and mentors. Its Proptech investments include GarantMe, Check&Visit, Beanstock, Pionix, Oculai, Graneet... ‍

About RENT:

Created in 2013, RENT (Real Estate & NewTechnologies) is the must-attend event for innovation at the heart of real estate. The 12h edition of this major European event for real estate professionals (visitors) and technology professionals (exhibitors) will be held in November at Paris Expo - Porte de Versailles. RENT is also exporting at a European level with a participation to RENT Switzerland and PROPTECH EXPO, in collaboration with SIMAPRO, in Madrid.