Q-Bot, a London-based company specializing in robotics and artificial intelligence (AI) tools for inspecting, monitoring, and maintaining buildings and infrastructure, has secured a fresh round of investment, totaling more than €4 million. This new funding will be used to facilitate Q-Bot’s expansion in its primary markets, including the UK, continental Europe, and the USA.
The investment consortium consists of private investors and family offices, led by EMV, a venture capital firm focused on early-stage high-growth companies. It also includes Wealth Club, the UK’s largest investment service catering to high net worth and experienced investors. Notably, this round marks the first-time participation of Adjuvo, a London-based investment syndicate.
In the UK alone, Q-Bot’s advanced retrofit insulation solutions are poised to benefit the 8-12 million homes with suspended floors, traditionally challenging to insulate using conventional methods. With Q-Bot’s innovative insulation systems already installed in over 200 homes each month and a remarkable 60% surge in revenue over the past year,
Professor Peter Childs FREng, Chair and co-founder of Q-Bot, commented, “This investment is a strong validation of our work and underscores the substantial market potential both in the UK and abroad. Our clients, ranging from individuals to energy providers and social housing providers, appreciate our comprehensive and professional approach to home insulation, leveraging cutting-edge robotics and AI.”
This announcement comes on the heels of a recent visit by Lord Callanan, the UK Energy Minister responsible for Energy Efficiency and Green Finance, to Q-Bot’s new head office and retrofit research center in London. During the visit in August, Lord Callanan commended Q-Bot’s pioneering efforts and its contribution to enhancing the energy efficiency of homes across the UK, a crucial step in reducing carbon emissions on the path to achieving Net Zero.
Founded in 2012, Q-Bot’s technology streamlines floor insulation, offering a quick, hassle-free, and cost-effective alternative to traditional methods. Its effectiveness is validated by the Energy Saving Trust and the Residential Property Surveyors Association. Independent tests conducted by Leeds Beckett University have demonstrated a 24% reduction in heat loss in homes insulated by Q-Bot, and a separate study highlighted significant cost savings for properties with heat pumps, up to 30%.
In addition to reducing energy bills, Q-Bot’s insulation solutions can upgrade homes with a single measure. Out of the 12.6 million UK homes rated Energy Performance Certificate D or below, 30% can achieve EPC C status – a key objective of UK government policy – with Q-Bot insulation at less than a quarter of the cost of alternative methods and without causing disruption, making the transition to a low-carbon economy considerably more accessible and painless.
John Kennedy, Chief Executive of Q-Bot, added, “With this latest injection of funding, strong support from our investors and the UK Government, growing commitments to energy efficiency in the UK and abroad, and available public sector funding, Q-Bot is well-positioned to emerge as a significant and mainstream player in the retrofit and insulation market.”