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Vonovia headquarters
Photo: Marcel Kusch / dpa
The real estate giant Vonovia is investing in the German-Austrian construction startup Gropyus.
Vonovia is participating as a leading investor in the company's EUR 100 million financing round, Vonovia announced.
Vonovia board member Daniel Riedl is also moving into the company's supervisory board, with which Vonovia had already entered into a strategic partnership.
Gropyus builds apartments as ready-made modules that are put together on site and built into houses.
The start-up promises that this will make construction cheaper and more sustainable.
Gropyus intends to invest the funds from the financing round in product development and the expansion of production and manufacturing capacities.
The company currently employs around 300 people at locations in Germany, Austria and Liechtenstein.
mic/Reuters
