Vonovia SE (DAIMF), a German residential real estate firm, said on Tuesday that it is investing in GROPYUS AG, a building constructor, for Austrian proptech, an initiative connecting founders of digital real estate business models in Austria.
With this investment, Vonovia has become the lead investor in GROPYUS's current Series B financing round, the company said. The current financing for the Austrian proptech is at around 100 million euros, bringing the total funding to more than 200 million euros until date.
GROPYUS will use the investment to realize its long-term growth plans, including the expansion of the production site in Richen.
Riedl said: "…GROPYUS is digitalizing and transforming the housing and construction industry. We want to leverage this in our projects going forward and take resource-efficient living to the next level."
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