GALVANY raises €10M to fix Germany's heat-pump market

This article was published on June 8, 2026 The seed round, led by SET Ventures and AENU, backs a platform that bundles sales, installation, and AI energy management, after revenue jumped sevenfold to €20.1mn. Germany has no shortage of heat pumps on paper. What it lacks is a way to get them sold, installed, subsidised, and paid off without the whole thing falling apart somewhere in the middle. GALVANY, a Berlin startup that runs the entire heat-pump journey from sale to installation to ongoing energy management, has raised €10mn in a seed round to take that pitch to Germany’s apartment blocks. The round was led by Dutch energy-tech investor SET Ventures and co-led by Berlin climate fund AENU. What sets the deal apart is the company’s balance sheet. GALVANY says it generated €20.1mn in revenue in 2025, a sevenfold jump on the year before, and closed the year with a positive operating profit. Raising money from a profitable position, rather than burning through it, is rare enough in climate hardware to be the story. “In Germany, heat pumps do not fail because of the technology, but because of the gap between subsidy bureaucracy, installation capacity, and economic viability for the e