A Scottish start-up developing technology to help homeowners make their properties more energy efficient has completed the second tranche of a £550,000 funding round.
Based in Dundee, Heero Technologies raised the seed funding from a trio of investors led by Tricapital Syndicate. It was supported by fellow Scottish angel investment group Mint Ventures, and Scottish Enterprise.
Launched in 2022, Heero is developing an energy-efficiency app and website to guide homeowners through the entire retrofit journey by helping to overcome the multitude of barriers and complex guidance encountered when trying to reduce their energy bills. It also addresses challenges such as the disruption caused by invasive retrofit measures, and confusion over financing and government grants for energy efficiency.
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“We are thrilled to be working with Tricapital and Scottish Enterprise and are delighted that they have decided to support our business," chief executive Nicola Kennedy said.
"Our mission is to accelerate the adoption of energy efficiency technology that offers significant and tangible economic, environmental, and social benefits on the road to net zero, and this latest investment means we are well positioned to execute these ambitious plans.”
Now employing five people, Heero received the cash in two installments in April and September. The cash has been used to accelerate development of the app.
“There is a lot of noise currently around impact investing and the delivery of net zero," Tricapital managing partner Moray Martin said. "Heero’s intuitive technology brings focus to the ‘how to’ aspect by allowing us all, as individuals, to demonstrate, identify, measure, and then implement our personal contribution.”
Ms Kennedy added: “This is a positive endorsement of the Heero Technologies team and the solution we have created. We are grateful to our investors, who are deeply supportive of the Heero team and our strategy, and who share the same ambitions and values.”
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