GALVANY's heat-transition bet: 2,500 heat pumps, €20.1M revenue, profitable at seed

A Berlin-based end-to-end platform for Germany's heat transition that combines sales, procurement, installation and intelligent operation of heat pump systems in one offering for existing buildings.

That German heat pumps fail on installation capacity and economics, not technology, so an end-to-end sales-to-operation platform can scale profitably without subsidies.

€10M seed round closed June 2026, led by SET Ventures with AENU as co-lead.

Raik Belka founded GALVANY in Berlin in 2022 with the observation that heat pumps in Germany were not failing technically. The failures came from the gap between subsidy bureaucracy, installation capacity and economic viability for the end customer. He set out to close that gap with one platform: GALVANY combines sales, procurement, installation and operation of heat pump systems, so a household or housing company gets a managed heating transition instead of assembling contractors and subsidies itself.

GALVANY built its own hardware - the GALVANY Cube heat pump produced with Panasonic in Pilsen - and paired it with GALVANY Fusion, an energy management system linking heat pumps, battery storage and dynamic electricity tariffs, with load shifting and spot-market arbitrage cutting heating costs. By the end of 2025 it had installed more than 2,500 systems, generated €20.1M in revenue, up sevenfold year-on-year, and closed the year with positive EBIT. In June 2026 it raised a €10M seed round led by SET Ventures with AENU co-leading, to push into the multi-family existing-building market, develop Fusion into an AI-powered energy operating system, and scale its contractor and sales network across Germany.

The company is scaling from a profitable position: it plans to expand its offering for housing companies and portfolio owners in the multi-family existing-building market, release the first version of its consumer app in summer 2026, and grow its partner-installer and own-sales network nationwide.

The bottleneck was real and measurable: heat-pump technology worked, but retrofit installation capacity and subsidy paperwork were what slowed Germany's existing-building market.

A networked platform model avoided the expensive direct-sales machine of rivals, letting GALVANY keep unit economics healthy while scaling with partner installers.

Owning hardware plus software created a recurring margin: the energy management system turns a heat pump into a controllable grid asset that cuts the customer's running costs.

Profitable growth at seed stage proved the model did not need subsidy cycles, which made the round attractive to investors wary of policy-dependent climate businesses.

Find the non-technical bottleneck in a regulated transition - installation capacity, subsidy paperwork - and build the platform that removes it, so growth works before the next round.

As of September 2026, GALVANY is scaling within Germany from a profitable base: more than 2,500 installed heat pump systems and €20.1M in 2025 revenue (sevenfold growth, positive EBIT) per its June 2026 seed announcement, with the €10M round funding expansion into the multi-family existing-building market, development of its GALVANY Fusion energy management system into an AI-powered operating system, and growth of its contractor and sales network. Its first consumer app was scheduled for summer 2026, and the company employed more than 90 people at the time of the round.