PropTech startup syte, which provides a platform for land and real estate analytics, has closed on a €9m Series A round to drive European expansion.
The funding round was led by amberra, the venture studio of the Cooperative Financial Group Volksbanken Raiffeisenbanken. NRW.BANK joined as a new investor.
Other participation from existing investors included companies linked to the Schwarz Group, High-Tech Gründerfonds (HTGF), vent.io, and Vantage Value. In September 2024, the company announced its €5m Seed funding round.
“How land and existing properties have been assessed and evaluated so far costs the real estate and financial industry a great deal of time and money.
“Whoever digitises these processes will help determine what gets built in Germany and Europe going forward.”
Matthias Zühlke, Co-Founder and Co-CEO, syte
syte was founded in 2021 by Zühlke and David Nellessen, and operates a AI-driven platform which pulls together land and real estate data. Designed to help developers, banks, and brokers work out, in the infancy of the process – what can be built on a plot, which legal and zoning rules apply, and whether a construction or renovation project will work out.
The platform pulls analytics from a range of data sources for any address to surface building potential, renovation and energy needs, economic viability, and available funding programs, cutting review work which otherwise could take weeks in practice.
“The real estate business holds great strategic importance for the cooperative financial group. syte makes the potential of land and buildings visible early on, with the help of AI, and enables banks to advise faster and on a data-driven basis.
“The fact that several cooperative banks are already using the platform in real estate sales and client advisory shows its concrete value.
“We’re excited to support syte on its growth path and to expand our collaboration with the cooperative financial group in a structured way.”
Björn Schmuck, CEO, amberra
syte says its platform now maps over 62 million parcels of land across Germany and is used by over 200 customers for valuations, planning and portfolio analysis. The company employs over 40 people, and its annual recurring revenue has doubled year-on-year. In addition, the startup was named PropTech of the Year in 2025.
“With this new funding, we’re taking our technology to the next level: we’re continuing to automate the planning phases and expanding syte beyond the German market into Europe.”
Matthias Zühlke, Co-Founder and CEO, syte
The newly raised capital will be used to expand syte’s technology beyond Germany and into other European markets. The company also plans to expand automation to the earliest stages of a development project, from gauging building potential, to checking zoning and construction law, to checking the numbers on whether a project makes financial sense. In addition, they seek to set out a digital map for the entire process before construction.
