Wednesday 11 January 2017

London-based cleantech start-up raises £480,000

London-based cleantech start-up raises £480,000

A cleantech start-up based in London has raised £480,000 in its latest seed funding round.

Switchee creates smart thermostats for use by social landlords which are expected to help consumers save money on their heating bills.

The latest funding brings the total raised to date to more than £1 million.

The smart thermostat learns a household’s weekly routine and turns the heating off when no one is home. It also compares energy use with neighbouring properties and prompts residents to turn the heating down.

In additional, the technology provides data to help landlords spot inefficiencies in buildings.

It also measures humidity, air pressure and uses light sensors to make it easier for landlords to find problems such as broken lights, inefficient boilers or poor ventilation.

Adam Fundakowski, Managing Director of Switchee said: “We can now build on the success of our pilots with 15 housing associations and local authorities to further develop our analytics platform and deliver a significant return on investment for the landlords who use Switchee, while delivering greater energy and cost savings for residents.”

Written by

Bruna Pinhoni

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