Aug 24, 2023

Swedish greentech startup raises €2M to fuel global expansion in heat pump deployment DREM , a startup based in Stockholm, has secured a capital infusion of €2 million led by Peak , with participation from notable angels including Edgeir Aksnes (CEO & Co-founder of Tibber) and Peter Lindholm (CEO & Co-founder of Frontier Car Group). The startup specializes in simplifying the process of installing heat pumps for residential properties. The funding will be used to expedite DREM’s expansion on the international stage. DREM (Distributed Renewable Energy Movement) focuses on simplifying the integration of heat pumps into residential properties. Through its user-friendly platform and team of energy experts, the team aims to facilitate a seamless transition to renewable energy. DREM not only offers the benefits of enhanced energy efficiency and cost savings from heat pumps but also ensures top-quality products, competitive pricing, and exceptional customer service, all contributing to a more comfortable, energy-efficient, and sustainable home environment. “Financing at this stage is a significant boost for DREM. We are digitizing and streamlining installations at a time when people are seeking alternatives to natural gas and electricity, as prices are on the rise, and at the same time want to take responsibility for the environment and their energy consumption. In Sweden, the number of installed heat pumps per household is around 50%, while in the rest of Europe, the number is below 10%. A reason why both we and our investors see great potential in expanding DREM beyond Sweden’s borders,” said Babak Tighnavard , CEO and co-founder of DREM. “In Europe, there is a shortage of heat pump installers compared to households desiring to switch from gas to heat pumps. The DREM platform streamlines the industry so that installers can focus on performing the actual work of installing rather than having to spend time acquiring customers and marketing themselves. The potential for the European market is enormous, as DREM’s model balances the shortage of installers and facilitates households’ transition,” added Indra Sharma , Partner at Peak.