montamo, the next-generation heat pump installer for manufacturers and distributors, today announced a financing round of 6 million euros. This seed round was led by Alter Equity through its third fund, Alter Equity3PIII, with participation from US fund Rethink Education and existing investors Project A Ventures and Firstminute Capital. This funding round will enable the company to expand its geographical reach in Germany.
The company montamo, founded in Berlin in 2023 by Alexander Böhm and Ole Schaumberg, has developed a fast, reliable, and high-quality installation service. Just 12 months after its launch, the company has carried out installations for a variety of customers including multiple heat pump manufacturers, energy consultants, D2C actors, and utility companies.
The goal is to accelerate the energy transition in households and provide training for people. With this funding round montamo aims to advance the spread of its integrated model and become the leading heat pump installer in Germany. After establishing their first academy in Munich,the company plans to expand nationwide and establish hubs in major urban areas. The second academy will open in Stuttgart within a few days.With support from Alter Equityand Rethink Education,montamo benefits fromthe expertise of investors specializedin ecological transformation,social innovation,and educational technology.Thecompany’s goal is to trainand employ over1 ,000 individualsinthe next five years,focusing on thosefrom disadvantaged socio-economic backgrounds.This will also involve opening additional academies throughout Germany.
Alexander Böhm,founder,on his vision after thesecond financinground:
„Our goal is topromote sustainableenergy transitionfor householdsinGermanybyprovidingmanufacturersanddistributorswitha turnkey servicethat ensures price transparency ,availability,and service quality.With thisfunding,wewill expand our presencebeyondMunichandStuttgartbyestablishinghubsin severalmajor cities,in order todramatically increaseourinstallation capacityandgeographical coverage.“
Ole Schaumberg,founder,on themission:
„The skills shortageis not only achallengeforheat pump construction-itisan international problemfortheenergytransition!Weofferpeoplefromotherindustries who haveoften beenoverlookedinthegermanlabormarketa second chanceby providingthemwithastable,long-termcareerina rapidly growingsector.Wearenotjustinstallingheat pumps,wearerectingtheteamsthatenabletheenergytransition.“
Fanny Picard,chairofAlterEquity,stated:
„montamotakesonacriticalchallenge:it enablesinstallationofdevices that drivetheenerg ytransformationofprivatehouseholds.Thisinvestmentperfectlyfitsintothes trategyofourthirdfund,supportinghigh-growthstart-upswhoseactivitiesandbusinesspracticescontribute tol ong-termwell-beingofpeoplean denvironment.montamostrengthensenvironmentalimpactsofourportfolio whichhasalreadyavoided8 .9milliontonnesCO2eqemissions byend2024-equivalentto morethan2%oftotalFrance emissions.Wearealsoexcitedaboutthesocialimpactsofmontamo.Thecompanyhasalreadyproventhat it providesemploymentopportunitiesformarginalizedindividuals.Furthermore,welookforwardtomakingoursecondinvestmentinGermany.“
Amy Nelson ,ManagingPartneratRethinkEducationadded:
„montamosupportspeoplewhowanttolearnatradebyprovidingthemwithhigh-quality skilledjobs.Theirprovenschool ingmethodologyandsophisticatedtrainingconceptmakesthem areliablepartnerforheat pumpmanufacturers.RethinkEducationisproudto support montamosgrowthas theytap intoanimportantjobmarkettofacilitateclimatechange.“
About montamo
Founded by Alexander Böhm an dOleSchaumberginBerlinin2023,mont amoisaninnovativecompanyspecializinginf astandreliableinstallationo fenergytransition systems.Withafocusonhe at pumps,montamosupportsmanuf acturersandan easy-to-use service.Asaresponsetotheskillsshortage,m ontamohascreateditsowntrainingacademy,enablingnew entrants,introducingstablejobsinanexpandingsector-especially forthosefromdisadvantagedbackgrounds.Montamohasa mbitiont oacceleratedecarbonizationofGermanhouseholdsby expandingitsintegratedmodeltoseveralcitiesbecomingth eleadinginstallerofforhomeenergysystems.
mont amomountsinno vativeapproachforthetrainingthenextgenerationofi nstallers
In2023,monta moalreadystarteda nacademyi nMunich,toattract,traintointegrate talentedindividualsmostlycomingfromprecarious socialandeconomicbackground s:60%o fapprenticeswereunemployedbeforejoiningthecompany,and92%hadimmigrant background.Th egoalistotraineducatepeop leandoncequalified,give themfull-timeemploymentatmo nt amo.Sinceitslaunch,monta mo hashiredover30installers i nMunich,payingcloseattent iontogivingtheirinstalle rsrealcareerperspectives.
mon t amo-animportantd rivingforceindecarbonizingheatingi nGermany<PAsth eGermanygovernmenthas setambitiousgoalsfo rreducingCOâ''-emissionsandreachingene rgy independence,replacing fossilfuel-firedboilersw ithheat pumps hasbecomeanimperativesolution.T heEuropeanHeat PumpAssociation(EHPA)estimates thateachhea tpumpinst allationi nGermany-where75 %1o fhomesarestillheatedusinggasoroil boilers-preventsconsumption o fapproximately420cubicmeters ogasanda nnual emissionsofabou t1 .75tonnes COâ''eq peryear2< / PA lterEquityPioneering impact investmentmanagementcompanyAl terEquityhasbeen aradicalinnovatorinsustainable privateequitysince2007.Itadvocatesinvestments thatarebothprofitablea ndcontributetothelong-termwell-beingofsocietyandan environment.Thiscomprehensive missionissymbolizedb ythe3Psinthefundnames :People,P lanet,andProfit.Today,the comp anymanage sover235millioneuros exclusivelydedicatedtoimpactinvestments across three funds:alterequ ity3Palterequ ityPII,a ndalterequ ityPIII.T h ethirdfund,calledTibi32,is scheduledtoclose with85millioneurosinJuly20 24.Itwillinvestbetween4an d20millioneuroineuropean start-upsdrivingtowardssusta inabilityandr esponsibility ineconomics.Initiation,A lterEquityfinanced30start-up sinkeyareasofsustainable developmentincludingrenewabl eenergiesanden ergyefficiency,waste managementancircular economy,biodiversityconservation,e mploymentandinclusion,e ducationanculture,h ealthands well-being.