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Lithuanian Exergio Among Top Ten European PropTech Startups

2024/10/10

The Lithuanian-created, AI-based energy management platform Exergio triumphed at the European PropTech Startup Awards. It is the first Lithuanian company to receive prestigious recognition for innovations in creating and implementing energy optimization solutions in buildings.

 

Lithuania’s PropTech sector has seen significant growth in recent years, with Vilnius positioning itself as a key player in real estate innovation. This progress is largely thanks to the government’s 2023 PropTech Action Plan, which encourages collaboration between technology companies, real estate developers, and investors.

 

In particular, the RealBox sandbox has become a game-changer for startups. Launched in 2023, RealBox offers access to more than 2.5 million square meters of diverse spaces, including residential, commercial, and public properties, allowing startups to test their technologies in real-world settings. This approach is attracting investment and talent to Lithuania, solidifying Vilnius as a top destination for PropTech innovation.

 

Exergio was a finalist in the prestigious European PropTech Startup Awards held in Brussels. A jury of competent experts from across Europe evaluated the startups. The awards’ institutional partners include the European Commission, which this year carefully assessed whether the solutions developed by startups meet the goals of the European Green Deal and the New European Bauhaus project.

 

Exergio was one of the 10 winners, selected from more than 400 candidates. The company’s innovations and leadership in Environmental, Social, and Governance (ESG) principles were recognized as the best in their category. According to the jury, the company’s contribution to energy management transformation using AI stood out as an example of sustainable and significant technological progress in the real estate sector.

 

“We were the only representatives from Lithuania competing alongside the most promising and rapidly growing European PropTech and ConTech startups. Our team’s commitment to creating a smarter, energy-saving future for buildings was recognized at the European level, motivating us to continue developing innovations in this field. We are honored and proud to bring this award to Lithuania,” said Exergio CEO Donatas Karčiauskas, who presented the company’s AI-based building energy management system during the semi-finals and finals in Brussels.

 

Exergio is an AI-based energy management platform designed to optimize building energy consumption. It ensures efficient data collection and utilization and remote predictive maintenance of technical systems. Thanks to this platform, building energy consumption can be reduced by up to 20% and in some cases, even up to 30%.

 

The president of the PropTech Lithuania association, Martinas Eitmonas, expressed his joy at the association’s members’ achievement of such significant recognition. “This recognition is incredibly important for our market and proves that Lithuanian companies are creating exceptionally high-level technological products that have every chance to contribute to the global real estate market transformation. This award will draw the world’s attention to the young Lithuanian PropTech community and inspire other startup creators,” said M. Eitmonas.

 

Technopolis, Eastnine, Baltisches Haus, Mano Būstas, Quadrum, Swedbank, and others use Exergio services in Lithuania. This year, the company focused significantly on expanding into foreign markets—its solutions have already been implemented in buildings in the Netherlands, Scotland, Poland, Oman, and Romania, and an active partner network is currently being developed in the US market.