Deepki closes record €150m climate tech fundraise

The European ESG data intelligence platform founded in 2014 has tracked 5bn sq ft in 38 countries and detected savings equivalent to 180,000 tonnes of CO₂.

The company is used by 250 customers around the world and has teams in five cities, Paris, London, Milan, Madrid, Berlin. Deepki claims to be the only company in the world offering a fully populated ESG data intelligence platform for the real estate sector. It says the fundraise has set a record for the largest ever climate tech software fundraising in the real estate sector.

The €150m Series C round of funding was co-led by One Peak and Highland Europe, two London-based growth equity firms. Other investors include Bpifrance and Revaia, as well as existing investors Hi Inov and Statkraft Ventures.

Founded in 2014, Deepki’s software-as-a-service platform helps real estate investors, owners and managers improve the Environmental, Social and Governance performance of their real estate assets, and in the process enhance their value. The real estate sector is currently responsible for around 40% of the Earth’s carbon emissions, and has a clear target of reaching net zero by 2050 – a goal set by the World Green Building Council Net Zero Carbon Buildings Commitment.

More than $5tn of investment is needed each year to 1 decarbonize the built environment and ensure the real estate sector can meet its commitment to meet the net zero target by 2050. Deepki estimates that the value of the monitoring and analytics market required to achieve this goal will be worth $5bn to $10bn by 2025, with year-on-year growth of 20%.

The SaaS platform enables clients to collect ESG data, get a comprehensive overview of their portfolio’s ESG performance, establish investment plans to reach net zero, improve energy efficiency, and assess results. It also allows users to report to key stakeholders. The platform is supported by carbon and ESG experts who partner with clients across data collection and analysis, through to ESG strategy definition and implementation.

Deepki said that with the influx of cash it will hire 200 people in 2022, establish and grow the business in the US within the next 12 months, and carry out strategic acquisitions.

Deepki has enjoyed 100% year-on-year growth since 2019 and is confident that this trend will continue into 2022, as it seeks to benefit from the real estate sector’s increasing focus on improving ESG performance and combating climate change.

In 2021, Deepki secured significant new business from major European players such as AEW and Tikehau in France, Generali RE and DeA Capital in Italy, Allianz Real Estate and Warburg HIH in Germany, Azora Capital and Neinver in Spain, and several leading global property and asset managers in the UK.

Vincent Bryant, CEO and co-founder of Deepki, said: “The global real estate sector needs to act now if it is to halve its emissions by 2030 and meet the net zero target by 2050. This represents a huge market opportunity for Deepki. Today’s new funding announcement means that Deepki can make a greater impact and support even more asset owners in taking on the climate change challenge, and we are pleased to have our new partners Highland Europe and One Peak, as well as Revaia and Bpifrance Large Venture on this journey.”

Emmanuel Blanchet, COO and co-founder of Deepki, added: “Commercial real estate with poor ESG performance is already being affected by brown discounting and greater focus is being placed on properties which can adapt to more stringent requirements in terms of carbon emissions. As a result, we are seeing rapidly growing demand for our technology. The new investment means that we can take it to new markets and support the real estate sector as it plays its part in tackling climate change.”