Today, UK climatetech startup Furbnow announced a £950k Pre-Seed investment.
The Birmingham-based company was founded by Becky Lane (energy efficiency industry expert) and Laurence Watson (serial climate tech entrepreneur and data scientist).
The company aims to retrofit one million homes by 2030 by eliminating the hassle from every stage of the home energy improvement process.
Globally, emissions from homes account for approximately 20 percent of carbon emissions.
The UK alone, needs to retrofit two homes every minute to hit the UK’s target of Net Zero by 20502. Currently, 97 percent of homes are classed as inefficient and not ready to meet Net Zero targets.
Furbnow fills a void where there’s a lack of support for homeowners with older, 'leaky' homes who want to make changes to become more energy and eco-efficient.
According to Becky Lane, co-founder and CEO of Furbnow:
“Everyone deserves a warm, comfortable home without costly bills, 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 Furnow as 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 company uses digital twins tech to virtually test drive different carbon cutting, energy-saving options like solar panels, insulation, and heat pumps in people's homes to identify the best ways to move forward and manage the process end-to-end, connecting them with green tech providers (thus promoting the growth of green jobs too).
With customers already undertaking retrofit projects with the help of Furbnow, this latest investment will support the expansion of its supplier network to support customers with insulation, ventilation, new energy generation and low-carbon heating installations in their homes.
SFC Capital led the investment round, with participation from Norrsken Accelerator and angel investor Daniel Luhde-Thompson.
The round also includes a grant from Innovate UK’s Future Economy.
Lead image: Furbow. Photo: uncredited.