AirEx raises £1.5m in the second close of its Series A round to accelerate international expansion and product development.
The climate tech company added backing from Bayes Entrepreneurship Fund, One Planet Capital and Cell Capital to complete a £4.1m total Series A round.
Share allotment filed at Companies House
AirEx designs and manufactures smart ventilation products that reduce heat loss in residential buildings. The company was founded to address climate change and fuel poverty.
Climate technology company AirEx has secured £1.5m in a second close to bring its total Series A funding to £4.1m. The investment saw participation from Bayes Entrepreneurship Fund, One Planet Capital and Cell Capital, adding to earlier backing from Barclays Sustainable Impact Capital and Nesta Impact Investments.
The capital will be used to accelerate commercial growth, scale operations in the UK and international markets, and develop new products. AirEx produces smart air brick technology intended to reduce fabric heat loss and help lower household energy consumption.
The business has previously deployed thousands of units across the UK and received validation from various regulatory bodies including Ofgem and the Scottish Government.
From the founder
"Impact is at the core of what we do at AirEx: to help the decarbonisation of homes and eliminate Fuel Poverty. With the help of this investment and business support we are well positioned to execute our vision – to become a ‘no brainer’ solution for social landlords and homeowners looking to reduce energy consumption in a non-disruptive way. We are truly excited to have the support of such like-minded, mission driven investors."
Agnes Czako
Co-Founder and CEO at AirEx
Investor perspective
"The Bayes Entrepreneurship Fund was established to support innovative businesses and we are delighted to have completed an investment into AirEx and its smart brick technology. Agnes and her team have already established excellent customer relationships and exciting plans for product development, and we look forward to helping them grow and develop."
Helen Reynolds
Investment Director, Cass Entrepreneurship Fund
Use of funds
- 01Expand into international markets
- 02Continue product development
