Q-Bot, the UK’s leading developer of robots for use in the construction industry, has closed an investment round of £450,000 supported by ClearlySo, Minerva Investors Group, Curious Capital, London Business Angels and Chicago Booth Angels. The investment is leveraged with £1,050,000 funding from the EU Commission’s Horizon 2020 program, to bring the total funding up to £1.5m. The new funds will allow Q-Bot to roll out the world’s first affordable and truly scalable solution for under floor insulation. Hayley Collen, Investment Director at ClearlySo: “This is an exciting time for Q-Bot as it looks to scale up in the UK and launch in new markets. ClearlySo is proud to have helped them raise capital at each step of their journey to improve energy efficiency and reduce fuel poverty for customers in the UK and beyond.” With an estimated 10 million homes needing under floor insulation in the UK alone and with markets in Northern Europe and the US, there is a huge need to develop more scalable approaches for the retrofit of insulation. Q-Bot has developed a highly innovative, robotic device that can deploy through a small opening, survey and map the space, apply insulation in situ and then validate the job done. This unique approach transforms inefficient, cold and draughty properties into warm and cosy homes at a fraction of the cost and time of traditional methods. It also minimises disruption for the occupants and can reduce energy bills by as much as 1/4, saving hundreds of pounds. This has resulted in Q-Bot acquiring significant clients in the social housing sector, including Camden Council, Cardiff City Council, CityWest Homes, Islington Council and Peabody. Mathew Holloway, CEO & Co-Founder of Q-Bot: “The support of our investors combined with co-funding from the EU Commission’s H2020 program, has enabled Q-Bot to secure the accreditation critical to our customers and partners including a BBA Agrément Certificate and CE Mark. Q-Bot is now poised to roll out the service across the UK and capitalise on successful trials in France and the US. This new investment will allow Q-Bot to accelerate growth and put in place the infrastructure required to deliver the service across the millions of homes that need it. Q-Bot has already created dozens of jobs and insulated hundreds of homes, but our goal is to have an impact on a global scale, by transforming the construction industry with smarter solutions. Cornel Chirac, Chicago Booth Angels: “We are impressed by Mathew and his team’s vision for the future and Q-Bot’s accomplishments to date. Chicago Booth Angels Network is proud to support Q-Bot in solving a real problem through the use of technology for people in the UK and beyond.” Notes to Editors About Q-Bot: Q-Bot was founded in 2012 with the objective of using robotics and advanced manufacturing techniques to revolutionise the building and construction industry. The company is funded through a combination of government grants, private investment and sales revenue, and has been supported by ClimateKIC, InnovateUK, The Department for Business, Energy & Industrial Strategy, The Royal Commission for the Exhibition of 1851 and the EU Commission’s H2020 program. The company employees 25 people and is based in Wandsworth, London. Q-Bot vision is to create smarter tools for the construction, maintenance, and upgrade of buildings. These robotic tools allow workers to remotely inspect and carry out a range of operations in hard to reach areas, such as crawl spaces, at height, or where there are other hazards which makes human access undesirable. The initial focus is under floor insulation, an application which is cost prohibitive and impractical without robots. Q-Bot has developed the first affordable and scalable solution to this problem, using a unique robotic device called SprayBot to apply insulation in situ. SprayBot can access the building through an external opening, performs a visual analysis, and builds up a 3D map of the space; it then applies the insulation, before finally inspecting the job done, thus facilitating quality control and validating energy savings. In a highly competitive insulation market, robots empower installers, making their work more efficient and safer while insuring the work is carried out at a lower cost, with minimum disruption, and within a very short timeframe. In older, poorly insulated buildings with timber floors, heating bills can be reduced by as much as 25% and draughts can be reduced by up to 50% (see Leeds Beckett University co heat test and Q-Bot case studies for further information). Thermal comfort for occupants is also greatly enhanced, due to reduced cold draughts and temperature differences. Learn more at www.q-bot.co. About ClearlySo: ClearlySo is Europe’s leading impact investment bank, working exclusively with businesses and funds delivering positive social, ethical, and/or environmental impact as well as financial return. Originally founded in 2008, ClearlySo has helped more than 100 clients raise more than £150 million in impact investment from its extensive network of high-net-worth individual and institutional investors. In addition, ClearlySo ATLAS helps investors assess the social and environmental impact of their venture capital and private equity investments and guides them towards choosing sustainable businesses that deliver long term benefit to people, planet and the bottom line. ClearlySo is headquartered in London. Further Information Mathew Holloway CEO of Q-Bot E: [email protected] T: +44 (0)20 8877 2709 John Lloyd CMO of ClearlySo E: [email protected] T: +44 (0)207 490 9520
A company that develops robots for use in the construction industry has raised £1.5m ($2.03m) of investment. The funding for Q-Bot came from the EU Commission's Horizon 2020 programme, supported by a number of investment companies including Minerva and London Business Angels, and will be used to help the company roll out its automated device for installing under-floor insulation. The company's robot can map the space in a room, apply insulation and confirm that the job has been done properly. It has attracted customers in the social housing sector, including the UK, Cardiff and Islington councils.