Luxembourg’s industrialised timber construction startup LEKO Labs secures fresh capital to accelerate its European expansion and prepare a landmark Series B.
LEKO Labs has closed a new funding round with its historical shareholders and partners, bringing total capital raised since its founding in 2017 to over €30 million.
The Luxembourg-based deeptech company, which specialises in low-carbon timber construction systems, achieved profitability in 2025 — posting a positive EBITDA of €0.7 million — before announcing this latest transaction.
“What particularly stood out to us was the team’s discipline and ability to execute. LEKO has stayed the course and demonstrated the relevance of its business model,” stated Keith O’Donnell, historical investor in LEKO. “This combination of resilience and commercial traction is what led us to renew our support for the company.”
Built on more than one million hours of engineering, nine patents, and roughly 500 homes delivered across the Benelux, the company operates an integrated platform combining algorithmic design, robotic production, and off-site manufacturing certified up to G+11.
“The interest shown by new investors reflects the maturity of our technology and the commercial traction of our industrial model,” said François Cordier, Founder and CEO. “It will enable us to reach a new milestone in our European deployment.”
The round is explicitly positioned as an intermediate round ahead of a larger Series B targeted for late 2026 or Q1 2027 — with fresh capital earmarked to intensify commercial development on European markets and build the financial capacity to absorb large-scale operations, including programmes running into tens of thousands of square metres.
“LEKO demonstrates that it is possible to act on both fronts through an industrial and technological approach developed in Europe.”
Frédéric Van den Weghe, Managing Partner at AMAVI Capital
Q&A with François Cordier (Founder & CEO) and Gabriel Florea (CFO) of LEKO Labs
1. What is the amount raised and how will it be used?
This is an intermediate round with our historical shareholders. As we are working towards a very significant raise (Series B) for year-end / Q1 2027, we prefer to remain discreet about the amount deployed in this transaction. However, we can share the planned use of these funds. Having reached operational break-even in 2025, we are not raising to secure a runway, but to accelerate a model that has proven its industrial viability. The funds will feed two dynamics. On one side, intensifying our commercial development in European markets where demand is strong and where we already have committed projects. On the other, giving ourselves the financial capacity to absorb the scale of operations in preparation — some of which far exceed the scale of our early references. Signing programmes of several tens of thousands of square metres requires significant growth capital. It is this scaling phase that naturally led our historical investors to renew their confidence.
“We are not raising to secure a runway, but to accelerate a model that has proven its industrial viability.”
François Cordier (Founder & CEO) and Gabriel Florea (CFO) of LEKO Labs
2. What lessons do you take from the restructuring period, and what are your objectives for the coming years?
Three things.
First: leading a PropTech / DeepTech company through a real estate market crisis means making decisions that please nobody in the moment — not the teams, not the partners, not anyone. The role of a CEO in those moments is to hold the long-term trajectory even when the short term is uncomfortable. That is probably the most brutal and most structuring lesson.
Second: the quality of the people around you determines your capacity to hold on. We rebuilt part of the team around profiles combining industrial, financial, and technological expertise — people who stay united to carry out a common mission. That is what enabled us to overcome challenges that have considerably strengthened us today.
Third: you need a deep conviction in the relevance of what you are building, and you need to keep it intact when everything pushes you to doubt. Our conviction is that industrialised, low-carbon timber construction is the most effective infrastructure to respond, at scale, to the socio-economic and environmental challenges of the built environment.
On objectives: the context is unambiguous. Europe faces a massive housing shortage, and Luxembourg is a textbook case. STATEC projects the population rising from 672,000 today to 780,000 by 2035, which means doubling the current production rate — already under pressure. At the same time, decarbonation requirements for buildings are tightening at an unprecedented pace: in France with the RE2020 2028 threshold, and everywhere else through European trajectories. The LEKO system addresses both equations simultaneously: volume and carbon footprint.
Our objective over the coming years is to consolidate the model in Luxembourg and become the European leader in industrialised low-carbon construction. That comes down to two levers. First, deploying our own factories in markets where we have a critical mass of projects. Then, a network of licensed LEKO “Robofactories” — this micro-factory model, implanted close to construction sites, is at the core of our short industrial circuit logic.
“You need a deep conviction in the relevance of what you are building, and you need to keep it intact when everything pushes you to doubt.”
François Cordier (Founder & CEO) and Gabriel Florea (CFO) of LEKO Labs
3. Which European markets are next in your sights after the Benelux?
Three territories stand out clearly.
France first, where RE2020 and the 2028 decarbonation targets for buildings create a structural pull for construction systems like ours. We have already won our first projects there, and the industrial ground is ripe for local establishment.
The German-speaking area next — Germany, Austria, and Switzerland — which share a long-standing timber culture, high technical standards, and considerable market scale. This is where part of the industrial legitimacy of a European timber player is built. The market signal is quite clear right now: last week, Frank Thelen, founder of Freigeist Capital and one of our investors, shared our D’Haus video with his audience of DACH entrepreneurs and industrialists. The enthusiasm that followed reflects a strong appetite in that market for solutions like ours. This dynamic resonates all the more strongly because we carry the ambition of proudly exporting and claiming the Made in Luxembourg label — much like what Swiss Made represents. This industrial label must not remain a nice-to-have; it must become a signature.
The Nordic countries, finally, where timber market maturity and environmental sensitivity make them a logical expansion ground — with local players to approach through partnerships rather than frontal competition.
Beyond these three structuring territories, we regularly receive enquiries from other European countries, notably Portugal, Romania, and Ireland. This is an interesting signal of the traction of the LEKO model at continental scale, and we assess on a case-by-case basis the configurations that justify a local industrial investment.
