PwC Legal advises syte on seed financing round of EUR 5m
Berlin, 11 November 2024
A team from PricewaterhouseCoopers Legal AG Rechtsanwaltsgesellschaft (PwC Legal) provided legal advice to SYTE GmbH (syte) on its seed financing round of approx. EUR 5 million. The Schwarz Group took on the role of lead investor in the financing round. Two other new investors, namely the investment company Vantage Value and vent.io, as well as existing investors also participated.
syte intends to use the new funding to further improve its software solution for AI-supported analysis of the economic and ecological potential of properties, invest further in growth and lay the foundations for internationalisation.
syte was founded in Münster in 2021 by architect Matthias Zühlke and mathematician David Nellessen with the aim of linking digitalisation and architecture and making the real estate industry more sustainable right from the planning phase.
As lead investor, Schwarz is one of the world’s leading retail groups with 575,000 employees in 32 different countries. The pillars in food retailing are Lidl and Kaufland, based in Neckarsulm, Baden-Württemberg, Germany. In addition, a great deal of experience has been gained over many years in the field of digitalisation and IT, and IT solutions have even been developed from which other companies are now also benefiting.
Vantage Value has extensive knowledge in the areas of digital and industrial tech as well as business development, sales and the property industry.
As the digital innovation unit of the Deutsche Leasing Group within the Sparkassen-Finanzgruppe, vent.io provides valuable insights and direct access to target customers
Advisors to syte
PwC Legal (Berlin):
Gerhard Wacker (lead), Stephan Söbbeke (both Deals/M&A)
Advisors to Schwarz
RSM Ebner Stolz:
Dr Johannes Joepgen (lead), Theresa Reutner
About PwC Legal Business Solutions:
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