Nesta maintains a long-term interest in supporting the decarbonisation of UK households.
Portfolio
6
companies
AirEx
AirEx provides smart air brick technology to improve residential energy efficiency.
Renewabl
Renewabl provides a data-driven platform for verifying and trading clean energy procurement.
Furbnow
Furbnow provides an end-to-end platform for home decarbonisation and energy efficiency improvements.
Electron
Electron develops marketplace software for flexibility and distributed electricity networks.
Skin Analytics
Skin Analytics develops autonomous AI medical devices for skin cancer detection.
Symetrica
Symetrica manufactures advanced radiation detection and threat identification devices for security and military sectors.
Alex Hook
Senior Investment Director at Nesta Impact Investments
Matt Seden
Chief Strategy Officer
The funding round was supported by Vectr7 Investment Partners and existing shareholders alongside the Innovate UK Investor Partnerships Programme.
"This funding allows us to move faster with our growth plans and support the development of new products. Our goal is to provide a simple solution for landlords and homeowners to reduce energy use. We are pleased to have the continued support of our investors as we work to make homes warmer and healthier for residents."
Helen Ventures led the seed round with participation from international investors to fund European expansion and product development.
"It is our privilege to join the Renewabl team in their impressive growth story. Consuming clean electricity that matches on an hourly or 15-minute basis is fast becoming an imperative for net-zero-aligned companies – with good reason – whereas tracking and procuring this energy is a challenge,"
SFC Capital led the pre-seed round, which will help Furbnow expand its supplier network for home energy upgrades.
"Everyone deserves a warm, comfortable home without costly bills and yet 11.7 million homes sit at the D energy rating or less. Sadly, energy efficiency has been the poor relation to the low-carbon technologies that grab headlines. But if your home is cold and draughty, no amount of Co2 savings is going to be better for you. We’re building Furbnow to be the go-to platform for homeowners who want advice and support as they plan and install low carbon technologies and energy efficiency elements in homes,"
The funding round was led by East Innovate to support team growth and international expansion.
"We believe that time and location-based markets for energy and flexibility are foundational to the fastest, cleanest path to Net Zero energy. But, when Electron started developing these markets six years ago, the policies, business models and technologies required to support such markets were still unclear."
Hoxton Ventures led the Series A round with backing from Nesta and Mustard Seed Ventures.
"I am delighted to announce our Series A as yet another sign of the momentum we’re building at Skin Analytics"
The Southampton radiation detection specialist secured £3m from existing backers to fund its US expansion.
"We are delighted to have secured this latest round of growth funding, which has demonstrated continued support from existing investors and will enable us to take full advantage of the global growth opportunities we are presented with. Our range of market leading radiation detection technologies provide real world solutions to real world challenges and expanding our operations in the US is a key tenet of our growth strategy."
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