Statkraft Ventures returned to reinvest in Deepki, the developer of a real estate ESG platform, through a series C round set to fund an expansion drive.

Deepki, the France-based creator of a software platform which tracks environmental, social and governance (ESG) data for the real estate sector, secured €150m ($167m) from investors including power producer Statkraft yesterday.

The capital came through a series C round co-led by growth equity firm One Peak and venture capital firm Highland Europe that included BPIfrance, Revaia and Hi Inov, while Statkraft participated through corporate venturing unit Statkraft Ventures.

Founded in 2014, Deepki has built a cloud software platform which helps clients collect and analyse real estate data in addition to forming and deploying an ESG strategy.

Real estate is a sector which has been responsible for significant amounts of carbon emissions during the homebuilding process, and subsequently as the buildings are lit, heated or cooled. Ever rising property prices have meanwhile squeezed the finances of less wealthy citizens.

The ESG process can focus on making buildings more energy efficient, but also on rehabilitating public spaces into more socially positive or sustainable places, and on building social and affordable housing. Deepki’s product is intended to help stakeholders move toward zero emissions.

The series C funds will support a recruitment drive intended to add 200 people to Deepki’s team, as well as expansion in the United States and, potentially, strategic acquisitions.

Deepki co-founders Vincent Bryant and Emmanuel said in a joint statement: “More than $5 trillion of investment is needed each year to decarbonise the built environment and ensure the real estate sector can meet its commitment to meet the net zero target by 2050.

“The value of the monitoring and analytics market required to achieve this goal is likely to be worth $5bn to $10bn by 2025, with year-on-year growth of 20%. Today’s announcement means that we are in an even stronger position to take advantage of this huge opportunity.”

The company had previously disclosed $11.3m in funding, including $9m in a 2019 round led by Statkraft Ventures and backed by existing backers Hi Inov and Demeter. Its earlier investors include rail operator SNCF’s corporate VC subsidiary, SNCF Digital Ventures.

Photo courtesy of Deepki SAS.