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26 January 2023
press release

Austria: Schoenherr advises proptech scale-up GROPYUS on major Austrian scale-up financing round

Schoenherr advised the Vienna-headquartered property technology scale-up GROPYUS on its ongoing Series B financing round led by Vonovia, Europe's largest residential real estate company. The volume of this financing round is at around EUR 100m, bringing GROPYUS' total funding to date to more than EUR 200m.

With this financing, GROPYUS and Vonovia are taking the next step in their strategic collaboration and commitment to sustainable and affordable living for everyone.

Schoenherr's venture capital team, part of the IP & Technology practice, led by Thomas Kulnigg has been comprehensively advising GROPYUS as company counsel since its foundation, including in relation to its financing rounds. The successful first closing of this Series B financing round marks a highlight of Schoenherr's engagement by GROPYUS.

"GROPYUS is an innovative and fast-scaling tech company, that despite rather unfriendly market conditions was able to close one of the largest Austrian venture capital financing rounds in 2022/early 2023. We are proud to be involved in yet another milestone financing in the Austrian start-up community and to have advised GROPYUS throughout the whole process," said partner and co-head of Schoenherr's IP & Technology practice Thomas Kulnigg. "Congratulations to GROPYUS and Vonovia. We are looking forward to seeing the results of this innovative collaboration soon!"

GROPYUS AG was founded in 2019 and creates sustainable, affordable and smart living for everyone. The proptech is digitalising and transforming the residential market, establishing living as a service-driven product. GROPYUS currently employs around 300 people at its six locations in Germany, Austria and Liechtenstein.

Vonovia SE is a leading German residential real estate company listed on the Frankfurt Stock Exchange and part of the DAX German stock market index. It currently owns and manages residential units in all of Germany's attractive cities and regions. Vonovia has a workforce of approximately 15,900 employees and its CEO is Rolf Buch.

The Schoenherr core team was led by Thomas Kulnigg (partner) and included Niklas Kerschbaumer (attorney at law) and Andreas Lengger (attorney at law). Further support was provided by Christoph Haid (partner) and Maximilian Czernin (associate). On the side of the investors, several national and international law firms were involved.



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