German PropTech syte raises €9M to speed up early-stage real estate planning

German property technology company syte has raised €9 million in a Series A round to grow its land and real estate analytics platform and support expansion in Europe.

The round was led by amberra, the venture studio of the Cooperative Financial Group Volksbanken Raiffeisenbanken, with NRW.BANK coming on board as a new investor. Existing backers also took part, including companies linked to the Schwarz Group, High-Tech Gründerfonds (HTGF), vent.io and Vantage Value. The company had announced a €5 million seed round in September 2024.

Founded in 2021 by Matthias Zühlke and David Nellessen, syte runs an AI-driven platform that combines land and property data to help developers, banks and brokers determine, early in the process, what can be built on a given plot, which planning and zoning rules apply, and whether a construction or renovation project is economically viable. The platform draws on a range of data sources for any address to highlight building potential, renovation and energy needs, economic feasibility, and available funding programs.