Proptech & Contech Index Q1 2024 - Key Insights

In the first quarter of 2024, the Proptech & Contech ecosystem secured €481 million in funding, marking a small decrease both compared to last quarter (600M€ raised over Q4 2023) and compared to Q1 last year (approx. 500M€ raised).

Highlights from Q1 2024

1. Steady Activity over Q1 2024

The amount raised by the ecosystem (481M€) is in line with the same period last year. The most funded verticals span from Energy (20% for "Energy Trading and Storage", 18% for "Smart City and Urban Infrastructures", 15% for "Smart Buildings and Resilience"...), to Real estate (12% for "Real estate Fintech and Transactions") and Construction (8% for "Construction Workflows").

2. Increase in Financing for Energy and Impact

Startups at the intersection of energy and buildings & infrastructures still capture a lot of investments. 34% of the total number of rounds are raised by Energy startups (in line with 2023), while more than half of the rounds are raised by startups playing a role for building or energy systems decarbonation (51% of rounds for "Impact" startups). "Energy Systems" are also the most funded type of technology this quarter. 

3. A still very early stage Ecosystem

In line with the past 2 years, this ecosystem remains very early stage (with only few A rounds and almost no rounds > 20M€ this quarter) and heavily concentrated in Western Europe (UK, Germany and France capture more than half of rounds this quarter). 

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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. 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 entrepreneur-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... ‍

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