- The transaction enables Q-bot to accelerate sales of its ‘Robot as a Service’ offering to retrofit millions of homes in the UK and internationally, a multi-billion unexplored market
- Q-Bot’s award winning and patented technology automates underfloor insulation, helping to save energy, increase comfort and reducing heating bills
- Following a strategy review in 2021, Q-Bot is now accelerating growth in the UK and internationally through a network of Accredited partners
- The new funding allows Q-Bot to take advantage of the huge spike in demand due to rapidly rising fuel bills, and substantial reduction in repayment timelines for end users
Q-Bot, the UK’s leading developer of robots for use in the construction and retrofit industry, has successfully closed a £1.6m investment to fund the next stage of its growth, primarily from existing investors. The additional funds will allow Q-Bot to accelerate the rollout of its unique solution of remotely applying underfloor insulation across the UK and engage with growing overseas demand for Q-Bot’s solution. EMV Capital led the round, with participation of their parent company NetScientific PLC and other existing investors.
Using robotics and AI, Q-Bot develops innovative solutions that can survey, maintain, and upgrade existing buildings. Q-Bot created intelligent robots to apply underfloor insulation underneath suspended floors. This unique method improves the energy efficiency of properties and households’ comfort with minimal disruption to their daily life. Q-Bot’s solution is critically important in helping UK and other nations’ households face the unprecedented rise of heating cost for this winter. Retrofitting a suspended floor has many benefits: it saves money on energy bills, improves daily comfort, reduces carbon footprint, and increases the value of a property through increases in EPC ratings. This also means a healthier and warmer home to live in, contributing to tackling fuel poverty and working towards net zero carbon.
The additional funds will allow London based Q-Bot to accelerate the rollout of its unique solution of remotely applying underfloor insulation across the UK, therefore cutting energy costs in lost heat from homes and achieving net zero carbon. Through the use of intelligent robots that apply underfloor insulation underneath suspended floors, energy efficiency of properties and households’ is improved with much less disruption and cost than traditional methods. The company works with both social and private landlords, as well as homeowners in both the UK and internationally.
In December 2021, EMV Capital Ltd led and advised on a £2.8m transaction which included a Convertible Loan facility and the sale and purchase and secondaries from a departing Founder and other shareholders.
Commenting on the investment, Peter Childs FREng, Chair Q-Bot Ltd and Professor, Imperial College London said: “We are pleased that following the strategy review and changes to the company launched by the Board in 2021, we are now seeing accelerated growth for the business in terms of sales, the on-boarding of a series of key partners and continued investor support. We recognise the challenges associated with rising energy bills and are fortunate to be part of worthwhile solutions to reducing energy demands and associated emissions and costs. We are looking forward to being able to offer our quality assured underfloor thermal insulation to even more homes in the coming year.”
Dr. Ilian Iliev, MD of EMV Capital and Board member at Q-Bot said: “Q-Bot’s robotics as a service offering is at the right place and right time, providing a massively scalable solution not only to the transition to a low-carbon economy, but to the current crisis in growing households energy bills and energy security. We’re pleased also with growing international interest in the technology, which can see a further step-change in growth in future years”
