BDC

Q-Bot Raises Funds to Expand to Underfloor Insulation Business

Q-Bot-Raises-Funds-to-Expand-to-Underfloor-Insulation-Business

The leading development company in the UK for robots that utilised in the construction industry has agreed an investment of approximately £450,000. This investment round has been supported by ClearlySo, Minerva Investors Group, Curious Capital, London Business Angels and Chicago Booth Angels. This investment will now be leveraged by the company with the £1,050,000 funding that has been delivered by the EU Commission’s Horizon 2020 program. This means that the total funding acquired by Q-Bot now stands at £1.5 million.

The funds that have been generated by Q-Bot will be used to allow the company to rollout the world’s first affordable and completely scalable solution for under floor insulation. This is an exciting time for Q-Bot with plans to increase their growth in the UK which will allow the company to expand into new markets. ClearlySo, one of the funding supporters have expressed their pride at being able to help the company raise the right amount of funds to support the next stage of their business as well as helping to improve energy efficiency, and cutting fuel poverty for a number of customers in the UK and beyond.

It has been calculated that around 10 million homes are in need of under floor insulation in the UK alone. When this information is widened to incorporate Northern Europe and the US, it becomes apparent that there is a huge market for more scalable solutions and approaches in order to retrofit insulation. Q-Bot has developed an innovative robotic device that can be deployed through a small opening and then survey and map out the space. The robots can also be used to apply insulation in situ and the validate that the job is complete. This is an innovative new approach that can upgrade cold and draughty properties, transforming them into warm and cosy properties and reducing energy bills.

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BDC 299 December 2022