Heatio secures £560k in Seed funding to advance smart home energy management technology
The oversubscribed round was backed by thirty new angel investors alongside partners NorthInvest and the LCR Angel Network.
Heatio provides a smart home energy platform designed to manage and optimise renewable technologies. The clean tech startup operates from Liverpool.
Heatio has secured £560k in a Seed funding round backed by thirty new angel investors. The raise surpassed its original £500k target following support from investment partners including NorthInvest and the LCR Angel Network.
The capital will be directed towards advancing the development of the firm's Home Energy Management System and establishing key markets across the United Kingdom. The company previously obtained advanced assurance under the Seed Enterprise Investment Scheme.
Commercial Director Thomas Farquar noted that the injection provides the resources necessary to turn their vision for the energy sector into reality. Heatio anticipates initiating a Series A round in late 2024 to support commercial rollout.
From the founder
"We are delighted to have gained an array of individual and institutional investors who share our vision to drive forward technology-led change in the energy sector and we now have the resources to help us turn it into reality."
Thomas Farquar
Commercial Director at Heatio
Investor perspective
"NorthInvest are proud to have supported another tech for good business in their growth plans. Heatio’s technology will help consumers to save energy and cement the North as a hub for net positive innovation."
Jordan Dargue
director, NorthInvest
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Jordan Dargue
NorthInvest
Katie Nicholson
LCR Angel Network
Roderick Beer
UK Business Angels Association
Categories
About the company
Heatio
Heatio develops a smart home energy platform to manage and optimise renewable technologies.