- Berlin-based start-up with the world’s first sustainable kettle alternative
- Financing round led by investment company Summiteer
- Focus on expansion of production volume, internationalization, and further development of B2B business
- Five-year goal: becoming the predominant technology for heating liquids in homes and offices
- Limited pre-sale of next batch on Black Weekend 2022
Given the rising energy prices, the demand for energy-efficient solutions is growing, particularly in lieu of the coming winter months. This is where the greentech start-up Heatle comes in: The Berlin-based company has developed the world’s first production-ready technology that heats liquids of any kind to the preferred temperature. Thanks to it’s new, sustainable, convenient and energy-saving method, the product is able to heat the chosen liquid directly in its container. Heatle recently raised around three million euros for the further development of its promising business.
The seed round is lead by Summiteer. The investment company was founded by serial entrepreneur and former AKASOL CEO, Sven Schulz, and has already invested in numerous companies with sustainable and innovative business models. These include the organic food company followfood, the greentech unicorn Enpal and the market leader for reusable alternatives in Germany, reCup.
Well-known names such as Paul Schwarzenholz (Zenloop), Tobias Mehrer (Ranger), Georg Bader (Vitafy), Benedikt Klarmann (Junglück) as well as existing investors Anne and Stefan Lemcke (Ankerkraut) and Christoph Behn (Kartenmacherei) have invested through the Angel Club better ventures.
World’s first energy-saving alternative to conventional kettles
The kettle is considered a household staple in most kitchens throughout Europe. However, these appliances are amongst the biggest energy wasters within households. Studies by the Department for Business, Energy & Industrial Strategy in Great Britain have established what most of us knew from personal experience: On average, tea drinkers use kettles to heat more than twice as much water, than is actually needed. As a result, in England alone, more than 70 million litres of water are boiled unnecessarily – every day. This corresponds to an energy waste of over 3.2 TWh per year or the annual energy consumption of 1.2 million households – and that’s just from the use of kettles in one country.
This issue drove the ambitious team of developers at Heatle. After years of research, the two founders Wachtang Budagaschwili and David Riding succeeded in developing the world’s first energy-saving induction immersion heater – a monumental task that many other companies, including global corporations, have failed at. The immersion heater, with its design and technology, is now market ready and CE certified. Commercial success was quick to follow: in the first weekend of pre-sales in 2021 alone, over 5,500 units were sold across Europe, including Iceland, Gibraltar and the Canary Islands.
Wachtang Budagaschwili is pleased to announce that, with the help of the financing round, the company will now be able to set up and expand series production of the immersion boiling device; „It took a lot of time and effort to get our innovative technology ready for the market. We are more devoted than ever to being able to scale up production and bringing enjoyment to consumers across Europe,“ says the 37-year-old. „We are exceedingly happy and grateful for the patience and loyalty of our clientele, accompanying us on our important and exciting mission. We have a tremendously engaged and passionate audience – lots of new ideas. Insightful feedback reaches us every day, which constantly improves the product and the ecosystem around it,“ adds David Riding.
Summiteer CEO Dominik Bär is confident in the potential of the Berlin-based start-up: „We are looking forward to supporting this determined team on their mission in the long term and helping to further scale the business model- with the help of our entrepreneurial expertise in the industrial, technological and financial environment.“
Scaling, internationalization and B2B expansion
Through this capital, Heatle plans to further develop its state-of-the-art production site in Berlin. For context: the first immersion heaters have been in use by end customers since the end of last year. As of 2022, Heatle has been delivering throughout Germany as well as other regions of Europe. In the fall of this year, production has now been accelerated at a new, modern location in Berlin. In addition, the start-up plans to scale manufacturing and further drive internationalization. Furthermore, the greentech start-up would like to establish itself as a brand in the B2B sector, in order to facilitate the innovative Heatle technology being integrated into countertops and third-party appliances.
In the long term, Heatle aims to become the new standard in homes, offices, vacation homes and camping. Laterally Heatle also aims to work with renowned kitchen retailers and manufacturers, to establish its sustainable technology in the B2B segment. „Fundamentally, when customers want to buy a smart kitchen appliance, whether for tea or baby food, they will think of Heatle. We are developing Heatle as a sustainable companion for home, work, and on the go,“ says Wachtang Budagashvili.
Note: Interested customers have the opportunity to secure their Heatle in a limited pre-sale during Black Weekend, November 25-28, 2022: Heatle Shop
About Heatle: After years of research and development, Heatle was founded in 2020. Based in Berlin, the startup currently employs ten team members plus a dozen freelancers. Heatle won all three main prizes at the prestigious Berlin-Brandenburg 2020 Business Plan Competition, including the special prize for sustainability and the EMC Award from Siemens and InnoEnergy. Heatle was also a finalist for the Berlin-Brandenburg 2020 Innovation Award.