The funding round was led by British Design Fund and will support domestic and international growth.
"I’ve always been passionate about solving problems and engineering solutions for the home. While the idea for the Hidealoo was driven by my father’s ill health and the need to get clever with small living spaces, it has many other potential applications. The frame itself has been engineered to be incredibly robust and is capable of taking well over three times normal human weight. It’s also made to last more than a lifetime having been tested over 250,000 times."
The seed round was led by 24Haymarket with participation from Oxford Innovation EIS Growth Fund 2 to support commercial scale-up.
"Our continued research and innovative work has resulted in a coloured carbon fibre composite that is light and strong, without compromise, pushing the boundaries of design and technology."
WAVE Equity Partners led the Series B round, which will fund international expansion and product development.
"Energy-intensive industries and data centers have a crucial role to play in achieving a lowcarbon economy. Our mission is for QiO to be the partner of choice for businesses that want to take decisive action today to accelerate their progress to net zero. With our proven technology, demonstrable track record of delivering energy and GHG emissions savings, and this Series B funding, QiO is well-placed to support energy intensive businesses as they come under greater scrutiny from customers, investors, regulators and governments to deliver on net zero targets."
British Design Fund provided £125k towards the seed round to support premises relocation and engineering hires.
"Releasing seized fasteners is a massive operational challenge across many industries, with current manual methods often leading to damage to assets and costly delays. With our technology, we aim to help reduce costs, increase operator safety, and provide certainty during maintenance scheduling."
Vespa Capital has backed Eserv to accelerate international expansion and technology development.
"After performing a strategic review we set out to find an investment partner that would help strengthen our balance sheet to super charge our international growth plan, as well as further invest into our staff and technology development. Vespa Capital was able to demonstrate a very credible track record of growing technology enabled companies and adding real value to management teams through mentoring."
