GALVANY secures €10M to address issues in Germany's heat-pump sector.
Germany has an abundance of heat pumps on paper, but it struggles with effectively selling, installing, subsidizing, and financing them without encountering obstacles along the way. GALVANY, a Berlin-based startup that manages the entire heat pump process from sales to installation and continuous energy management, has secured €10 million in seed funding to target Germany's apartment buildings. The funding round was led by Dutch energy tech investor SET Ventures, with Berlin's climate fund AENU co-leading.
What distinguishes this deal is the company's financial position. GALVANY reported revenues of €20.1 million in 2025, representing a sevenfold increase from the previous year, and concluded the year with a positive operating profit. It is unusual in the climate hardware sector to raise funds from a profitable standpoint rather than depleting resources, making this a notable achievement.
"In Germany, heat pumps do not fail due to technology issues but rather due to the disconnect between subsidy bureaucracy, installation capabilities, and economic feasibility for the end user," explained founder and CEO Raik Belka. "We are specifically addressing this gap."
Established in 2022, GALVANY consolidates what is typically a disjointed process of sales, procurement, installation, and operation into a unified platform. Instead of maintaining an expensive direct sales team, it connects acquisition, supply, and management through a collaborative ecosystem of partners.
At its core are two key components: the GALVANY Cube, a heat pump developed with Panasonic, and GALVANY Fusion, an energy management system that integrates the pump with battery storage and the grid. The company claims it can significantly reduce a household's heating and energy expenses by utilizing dynamic electricity pricing, load shifting, and spot-market arbitrage. A consumer app is expected to launch this summer.
This aligns with a larger European initiative. As part of REPowerEU, the EU aims to install 43 million new heat pumps by 2030, and Germany has invested heavily in subsidies to facilitate this transition. However, adoption has slowed, partly because the economics often do not support the individuals covering the costs, particularly in multi-family dwellings, which GALVANY is focusing on.
The new funding will support efforts in the existing building sector and assist housing companies with extensive portfolios. Additionally, GALVANY intends to advance Fusion, rebranding it as an "Agentic Energy OS," software that manages a building's energy load in real time to convert fluctuating tariffs into savings. This aligns with the strategy of several European energy-software startups, suggesting that the next phase of the energy transition will be driven by software rather than hardware.
In a sector traditionally characterized by grants, pilot programs, and financial losses, GALVANY's approach is somewhat unconventional. Instead of claiming that the heat transition will eventually self-finance, it asserts, bolstered by a year of profitability, that it already does.
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GALVANY secures €10M to address issues in Germany's heat-pump sector.
Berlin's GALVANY secured €10 million from SET Ventures and AENU to expand its heat-pump platform in Germany, following a sevenfold increase in revenue to €20.1 million.