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The Venture Codex

Foundamental

Budapester Straße 5, Berlin, 10787, Germany

Overview

Early investors in Infra.Market, Enter, Permitflow, Tazapay, Speckle, Snaptrude, Wiz Freight. Foundamental partners with the most ambitious builders from day zero. Our minds are locked on our search for those who build the next 100 legendary technology companies in the real world. We search for vertical singularities often overlooked by others, spending 365 days a year dedicated to 3D design, construction, blue-collar workforce, robotics, supply chains, logistics, and opportunistically, industrial manufacturing and aerospace. Our expertise comes from our team's diverse background across technology, venture, and industrial operations, including prior successes with Spotify, Uber, Lyft, Zetwerk and more. Across the Foundamental portfolio, we had the privilege to build alongside daring category creators such as Infra.Market, Enter, Speckle, Snaptrude, Tazapay and SafeAI. We aspire to be the earliest partner, leading pre-seed, seed and Series-A rounds globally, and by principle reserving more than 50% of each fund for follow-ons. We put in the work outside of board meetings, leveraging our deep understanding and unique convictions to help founders navigate adversity in the critical early years. We are building the preeminent vertical technology investment firm for the real world, one legendary company at a time.

Total investments
44
Lead investments
15
Investments · 12mo
1
Active investors
3

Sector focus

  • Architecture
  • Building Maintenance
  • Construction
  • Home Improvement
  • Home Renovation
  • Human Resources
  • Real Estate
  • Robotics
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Investment portfolio

  • FAKTUS

    Led · Seed · Oct 2025

    FAKTUS operates an AI-powered banking and credit platform purpose-built for Europe’s construction SMEs, a segment that typically waits an average of 85 days for payment. Its product suite includes real-time project cash-flow accounts, instant invoice financing with automated validation, material advances, and retention bonds backed by an investment-grade guarantor. The technology parses contracts, tracks schedules, and compresses underwriting from weeks to roughly two hours, enabling rapid liquidity for builders. To date, the company has financed more than 470 worksites and supported over €100 million in project volume, ranging from schools and hospitals to landmark sites such as Roland Garros and the French Senate. Client growth has accelerated 300 percent in the last six months, supported by 13 regional agents and partnerships with over 20 federations and insurers including Atradius and Coface. Looking ahead, FAKTUS plans to finance €500 million of worksites within 18 months, complete nationwide coverage in France, and expand into the UK, Germany, Spain, Italy, and Portugal by 2026. The firm ultimately aims to serve more than 800,000 construction SMEs across Europe.

  • Enter

    Participated · Series B · Jun 2025

    Enter provides digital building intelligence and AI-driven renovation planning to accelerate energy-efficient retrofits. Its app digitally records any property in minutes, capturing material analysis, energy status, and modernisation needs while a proprietary AI engine generates tailored renovation paths adjusted for CO₂ pricing, subsidy programs, energy costs, and climate targets. The platform automatically suggests implementation partners from a nationwide network of over 100 qualified contractors and automates assessments, quote generation, and compliance with subsidy programs. Enter reports a 70% reduction in manual steps for energy assessments, a 60% decrease in operational staff requirements, and says one employee now performs the work of four energy consultants; over 30,000 buildings were fully analysed in Q2 2025. Founded in 2020, the company is scaling across Germany to address the large stock of European buildings needing upgrades. Financially, Enter has raised €40 million since founding and is using its recent Series B funding and prior technology investments to bring its technology to the mass market. Enter (formerly Baupal) offers a digital home energy assessment platform that asks eight to nine questions to produce a data-rich profile (about 250 data points) and estimates of energy-saving potential with roughly 90% accuracy. The service generates a digital twin of the building, recommends energy-efficiency measures, handles subsidy applications, and arranges site visits by Enter’s own energy consultants to verify data. Enter packages project planning and financing options to address homeowners’ concerns about affordability—citing that 75% of homeowners worry they can’t afford renovations. The company’s technology is positioned to accelerate renovation volumes beyond the capacity of traditional certified consultants. Leadership and advisers include co-founders/managing directors Justus Menten and Max Schroeren and a set of business angels and industry advisers referenced in reporting.

  • CalcTree

    Led · Seed · May 2025

    CalcTree provides a no/low-code engineering calculation platform that helps engineers turn complex calculations into reusable templates and workflows. The platform is designed to remove manual steps during design work and is currently undergoing trials at numerous firms around the world. Engineers can sign up and use the solution for free, and the company plans to operate a subscription business model offering freemium and paid plans. Founded by Onur Ekinci, Tim Rawling and Mahan Lamei, CalcTree intends to use its recent funding to expand operations and broaden its business reach. The company raised €2.3M in a pre-seed funding round led by Foundamental with participation from Kungari, Suffolk Technologies, Antler VC, and employees of Autodesk and Bentley.

  • Reneo

    Participated · Series B · Feb 2025

    Reneo provides an end-to-end, software-driven asset management platform (Reneo Core System) that uses machine learning to identify and implement cost-efficient, large-scale decarbonisation strategies for single-unit and multi-family residential assets. The company combines technology, renovation, investment and asset-management capabilities to modernise poorly performing buildings, convert under-utilised spaces, and lower tenant energy costs. Reneo reports achieving up to 30–60% reductions in energy consumption and has executed more than €500M of asset transactions since 2020, investing over €200M in 2024. The platform employs around 100 people across five German locations and has acquired over 600 units totaling roughly 40k sqm in Berlin and Hamburg. Reneo serves both retail and institutional customers and aims to scale programmatic, standardized retrofit solutions to address a large supply of energy-inefficient housing in Germany and beyond.

  • Desteia

    Participated · Seed · Feb 2025

    Desteia is a NYC-based technology startup that provides tools to help leaders and operators make optimal supply-chain decisions. Its platform uses AI to extract and organize information from unstructured data such as emails, messages and logistics documents. Desteia connects this information using graph theory—modeling nodes as locations and edges as routes—to create a dashboard for managing shipments across ocean, ground and air. The company has specific expertise in U.S.–Mexico cross-border operations and plans to use new funding to focus on that trade corridor. Desteia raised $8M in Seed funding (bringing total funding to $11.5M) to support that expansion. It has partnerships and contracts with retailers, auto manufacturers and CPGs in North America, and was founded by Françoise Lavertu, Diego Solorzano and Austin Poore.

Team