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GALVANY raises 10 million Seed round. SET Ventures and AENU back Berlin heat pump platform that has grown revenue 7x to scale profitable growth, multifamily homes, and AI-powered energy management Berlin, 8 June 2026 | GALVANY has raised EUR 10 million in Seed financing to expand its heat pump platform for Germany's existing building stock. The round is led by European energytech investor SET Ventures, with Berlin-based climate tech fund AENU as co-lead. The fresh capital will support GALVANY's next phase of profitable growth, with a focus on scaling its solution for multifamily homes, further developing its AI-powered energy management system, and expanding its contractor and sales partner network across Germany. Founded in Berlin in 2022 by Raik Belka, GALVANY has built an end-to-end platform for the installation, operation and optimisation of heat pump systems. The company has installed more than 2,500 heat pump systems to date, avoiding over 3,850 tonnes of CO[2]. In 2025, GALVANY generated EUR 20.1 million in revenue, seven times more than the previous year, and closed the year with positive EBIT. At the centre of the platform is the GALVANY Cube, a modular heat pump system produced together with Panasonic in Pilsen. The hardware is combined with GALVANY Fusion, the company's energy management system, which connects heat pumps, battery storage, and dynamic electricity tariffs into one integrated energy system. The company will use the funding to advance three priorities: * First, it will expand its offering for multifamily homes in the existing building market. This segment represents one of the largest opportunities for CO[2] reduction in German heating, particularly for housing companies and portfolio owners. * Second, the company will further develop GALVANY Fusion into an AI-powered energy operating system. The software is designed to orchestrate load profiles in real time and translate dynamic electricity tariffs into measurable savings for customers. * Third, the company will scale its contractor and sales network. By combining partner-based installation capacity with its own sales organisation, the company aims to accelerate nationwide deployment without relying on a costly fully direct model. GALVANY's customer proposition is built around a clear promise: "The first heating system that pays for itself." Through dynamic electricity tariffs, load shifting, and spot market optimisation, the company aims to reduce heating and electricity costs for customers over time. The first version of the GALVANY app is scheduled for release this summer, enabling customers to digitally control their full energy system. "We are building the infrastructure that will finally make the heat transition work in existing buildings," said Raik Belka, Founder and CEO of GALVANY. "In Germany, heat pumps do not fail because of the technology. They fail because of the gap between subsidy bureaucracy, installation capacity, and economic viability for the end customer. This is exactly the gap we are closing with a platform that makes every link in the chain measurably better while sustaining itself. Closing this round from a profitable position is proof that the heat transition can scale on strong economics." "The next phase of the energy transition will not be decided by hardware alone, but by the software that intelligently links generation, storage, and consumption," said Dr. Till Stenzel, Partner at SET Ventures. "GALVANY is one of the few European companies that thinks this through from the end device all the way to the power grid. With its platform and energy management system, the heat pump evolves from a heating device into an active element of a digitally controlled energy system." "The heat transition is the largest unsolved piece of European decarbonisation, and one of the most capital-intensive," said Philip Specht, Partner at AENU. "What convinced us about GALVANY is the discipline with which the team brings together cost, efficiency, and customer value. Profitability at the Seed stage is rare in climate tech. It shows that GALVANY has built a business model that can scale without becoming dependent on short-term subsidy cycles." About GALVANY. GALVANY is an end-to-end platform for the heat transition in existing buildings. Founded in Berlin in 2022, the company combines sales, procurement, installation, and intelligent operation of heat pump systems in a single system. At its core are the GALVANY Cube, produced together with Panasonic, and the GALVANY Fusion energy management system. GALVANY employs more than 90 people and has installed more than 2,500 heat pump systems. NETHERLANDS: Keizersgracht 756 | 1017 EZ Amsterdam GERMANY: Rodingsmarkt 9 | 20459 Hamburg Want to send us a pitch deck? (C) 2026 SET Ventures.

Berlin-based GALVANY has raised €10 million in a seed round led by SET Ventures and AENU. The heat pump platform grew revenue sevenfold to €20.1 million in 2025 and closed the year profitable, a rarity for climate-tech startups at this stage. Founded in 2022 by Raik Belka, GALVANY has installed over 2,500 heat pump systems across Germany. The company owns the full stack from sales to installation and ongoing operation, using its GALVANY Cube hardware and Fusion energy management system to automatically optimise heating loads based on dynamic electricity tariffs. The funding will support expansion into multi-family housing, development of AI-driven energy management capabilities, and growing GALVANY's installer network. The company employs over 90 people and has cut more than 3,850 tonnes of CO₂ to date.

GALVANY raises 10 million euros seed and increases turnover sevenfold to 20 million euros. Energy-Tech GALVANY expands AI-supported heat pump platform with fresh capital. From installer to energy operating system for existing buildings. News by Marc Nemitz · Berlin, 08. June 2026 Berlin-based GALVANY Energy GmbH has completed seed financing of 10 million euros and reported strong growth at the same time: Turnover rose to 20.1 million euros in 2025, a seven-fold increase on the previous year. The company has thus grown profitably and is one of the rapidly scaling platforms in the European heat pump market. The lead investor in the round is SET Ventures, the co-lead is climate tech investor AENU. Platform for the heating transition in existing buildings. GALVANY was founded in 2022 and has already installed more than 2,500 heat pump systems. The company's aim is to accelerate the heating transition in existing buildings with an integrated platform solution. Menalto Advisors, LLC is building the infrastructure that will finally make the heating transition in existing buildings work. Heat pumps do not fail in Germany because of the technology, but because of the gap between subsidy bureaucracy, installation capacity and affordability for the end customer. Raik Belka, founder and CEO of GALVANY The focus is on the GALVANY Cube, produced jointly with Panasonic, supplemented by a modular system consisting of a heat pump, battery storage and the AI-supported energy management system GALVANY Fusion. AI meets energy management. GALVANY intends to use the fresh capital to scale three central areas: One focus is on the multi-family home segment, which is considered particularly CO[2]-relevant but has been difficult to electrify to date. GALVANY Fusion is also being further developed as an "Agentic Energy OS". This is a system that optimizes load profiles in real time and translates dynamic electricity tariffs into direct cost benefits for end customers. Thirdly, the company is expanding its installation and partner network nationwide in order to accelerate the scaling of the platform. Profitability as a strategic advantage. In contrast to traditional installation models, GALVANY relies on a fully integrated platform that combines sales, installation and operation. The company advertises with the approach: "The first heating system that pays for itself." Load shifting, dynamic electricity tariffs and intelligent control are intended to significantly reduce energy costs. The first version of the GALVANY app, which enables the control of complete energy systems, is also due to be released in the summer. Investors see structural change in the market. The next phase of the energy transition will not be decided by hardware, but by the software that intelligently connects generation, storage and consumption. GALVANY is one of the few European companies that consistently thinks this logic through from the end device to the power grid. Dr. Till Stenzel, Partner at SET Ventures SET Ventures emphasizes the growing importance of software in the energy transition, while AENU particularly highlights the combination of scaling and profitability. GALVANY shows that climate infrastructure is economically scalable even without long-term dependence on subsidies.