Vilisto raises a record EUR 1.5 million through crowdfunding
The Hamburg-based green tech start-up, Vilisto, raised a record EUR 1.5 million in just 11 hours and 37 minutes during a crowdfunding campaign launched in January. The company will put the capital towards the sales team and greater marketing of its thermostat for indoor heating. Reducing energy consumption in buildings is central to Hamburg's goal of climate neutrality by 2040. The building sector is responsible for 30 per cent of CO2 emissions 70 per cent of which is for heating, according to the German Ministry for the Environment.
Vilisto had initially aimed to raise EUR 1 million in 30 days, but the crowdfunding campaign spiralled swiftly into hours. Investors receive an interest rate of 6 per cent per annum on a minimum sum of EUR 250 for a five-year period. "This insane success leaves us speechless. We are overwhelmed, grateful and incredibly proud. But what makes us most happy is that the huge support shows that we are not alone on our way to a climate-neutral building stock. Knowing that we have a great community behind us that believes in us and our mission is a huge motivation," the team told Beyourpilot, the start-up platform behind Hamburg's universities and Deutsches Elektronen-Synchrotron (DESY).
Climate neutrality through more efficient heat management
Vilisto has installed over 9,500 fully automated and self-learning radiator thermostats in more than 100 buildings so far, saving around 1,200 tons of CO2 emissions. The crowdfunding campaign will allow the start-up to multiply the CO2 savings to more than 200,000 tons of CO2 by 2027. The 34-strong team works in interdisciplinary groups on developing its heat management solution.