E619 | Georg Reifferscheid, REWE Group: Building Climate-Tech Ventures Inside a €94B Retail Giant

Welcome back to another EUVC Podcast, where we gather Europe’s venture family to share the stories, insights, and lessons that drive our ecosystem forward.Today we dive into the corporate venturing journey of Georg Reifferscheid, Head of Climate Tech at REWE Group, one of Europe’s largest retailers with €94B in revenue and 350,000 employees. With supermarkets, discount brands, travel agencies, hotels, DIY markets, and more under its umbrella, REWE is a powerhouse — but also a company with massive sustainability challenges.Georg walks us through how REWE Ventures is structured across four focus areas (Retail Tech, E-Grocery/Mobility, Food Tech, and Climate Tech), why his team is prioritizing cooling, HVAC, and green construction materials, and what it really takes to get startups and corporates to collaborate effectively. From investment strategy and deal stages to the psychology of expectation management, this is a candid look at how a €100B cooperative builds innovation for the next century.🎧 Here’s what’s covered:00:10 Introduction: Jeppe welcomes Georg and sets the stage on REWE’s scale and Georg’s unique background.05:00 Inside REWE Ventures: the four focus areas and how each ties directly into REWE’s business units.10:00 Climate Tech mandate: from Scope 1 and 2 emissions to why cooling and HVAC are priority #1.15:00 Investment approach: Series A+ sweet spot, why hardware is front and center, and REWE’s role as a strategic co-investor.20:00 Diligence process: how technical validation, strategic fit, and M&A teams all come together.25:00 Strategic vs. financial: Georg on why strategic value add trumps pure returns.30:00 Building trust inside a corporate: expectation management, psychology, and anecdotes from warehouses and stores.35:00 Climate Tech Challenge: how REWE screens startups efficiently and generates pilots.40:00 Portfolio highlights: Project Eden in Food Tech, plus upcoming pilots in cooling technology.45:00 Lessons for corporates: defining your “why,” building with psychology in mind, and learning that startups and corporates live in different time zones.

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