Minibems secures seed investment led by SET Ventures to expand its heat network platform
The funding round was led by SET Ventures with backing from Ascension Ventures and the Future Fund.
Minibems provides an internet of things platform and managed service designed to optimise heat networks and improve energy efficiency across property portfolios. The technology enables real time monitoring and remote diagnostics to help reduce fuel consumption and maintenance costs.
Minibems has secured a new round of seed funding led by SET Ventures, with support from Ascension Ventures and matching capital from the UK government Future Fund. The capital will be directed towards product development and expanding operations across the UK and European heat network markets. Alongside the transaction, Simon Gunter has joined the firm as executive chairman.
From the founder
"The way buildings are designed and operated for heating and maintenance is inefficient and inaccurate respectively, and due for a fundamental change. We should be able to use technology to ensure we minimise energy usage, optimise maintenance cycles, reduce engineer call-outs, and assist companies in meeting current and future decarbonisation goals. I look forward to assisting Minibems in driving this change. Now is a very exciting time."
Simon Gunter
Executive Chairman at Minibems
Investor perspective
"The opportunity in heat networks continues to grow and Minibems is ideally positioned to capitalise on this with their unique offering. Heat networks need Minibems to become efficient and low carbon"
Craig Douglas
Principal, SET Ventures
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
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About the company
Minibems
Minibems provides an internet of things platform and managed service to optimise heat networks.