EcoSync secures over £950k in its second seed round to accelerate sales and technology development.
The funding round was supported by Oxford Innovation EIS Growth Fund and OION Angels.
Share allotment filed at Companies House
EcoSync provides cloud-based energy management technology for commercial buildings to curb heating bills and emissions. Its platform utilises artificial intelligence to optimise energy consumption across various sectors.
EcoSync has raised over £950k in its second seed funding round, backed by Oxford Innovation EIS Growth Fund and OION Angels. The round closed early after achieving 240% of its target investment.
The cleantech company will direct the capital towards executing its sales and marketing strategy and further developing its technology. EcoSync's cloud-based platform aims to reduce commercial building heating bills and carbon footprints by up to 50%.
Following successful deployments across higher education facilities, the firm is expanding its reach into the leisure and public sectors. The latest injection of capital supports the company as it builds momentum in reducing energy consumption in older buildings with wet radiators.
From the founder
"This new funding allows EcoSync to make significant progress towards the next milestones in its development strategy, giving us the opportunity to expand into other sectors and accelerate growth. Without the support of our new, and existing, investors we would not have been able to make such compelling advancements and take our solution to market, where it can have a real impact in driving a transition towards net zero carbon."
Nick Pledge
CEO at EcoSync
Investor perspective
"We first met EcoSync in late 2021 and was very impressed with its innovative technology, seeing huge growth potential. Following our investment to the first funding round, from the Oxford Innovation EIS Growth Fund and OION Angel Network, we have continued to follow EcoSync’s progress and significant developments, maintaining our confidence in the market opportunity for its technology due to the large number of older buildings in the UK with wet radiators. We therefore increased our investment in the latest funding round, supporting EcoSync in accelerating its growth over the next 3 to 5 years, with the potential for its technology to be implemented in several different sectors across the globe."
Richard Cooper
Managing Director, Oxford Innovation Finance
Use of funds
- 01Invest in sales and marketing
- 02Continue product development