AI and Robotics ConTech Startup Q-Bot Secures £3.5M for UK, European, and US Expansion

London, UK - 14th September 2023: In a significant milestone for the burgeoning field of energy-efficient home insulation, Q-Bot, a cutting-edge company specialising in Artificial Intelligence (AI) and robotics for residential insulation, has successfully raised more than £3.5 million in fresh capital. This substantial infusion of funds underscores the immense growth potential of Q-Bot's pioneering technology, poised to reshape the way homes are insulated around the world.

Q-Bot has witnessed remarkable growth over the past year, with its revenue surging by an impressive 60%. The newly secured investment will play a crucial role in fuelling Q-Bot's expansion, not only within its home market of the United Kingdom but also across continental Europe and the United States. Notably, in the UK alone, Q-Bot's advanced retrofit insulation solutions have the potential to benefit an estimated 8-12 million homes that feature suspended floors, historically challenging for traditional insulation methods.

This impressive investment round was orchestrated by a diverse group of financial backers, including prominent entities such as EMV Capital, renowned for their expertise in early-stage high-growth companies, Wealth Club, the United Kingdom's largest investment service catering to high-net-worth individuals, and Adjuvo, a respected London-based investment syndicate. This eclectic mix of investors underlines the broad appeal of Q-Bot's pioneering technology.

Lord Callanan, the UK Energy Minister overseeing Energy Efficiency and Green Finance, recently visited Q-Bot's new head office and retrofit research centre in London. During his 1st August visit, he showered praise on Q-Bot's groundbreaking work and the significant contribution it is making toward enhancing the energy efficiency of homes throughout the UK. Furthermore, the reduction of carbon emissions is a pivotal component of the UK's journey toward achieving Net Zero emissions.

Q-Bot's innovative technology offers a swift, cost-effective, and hassle-free solution for insulating floors, outperforming traditional insulation methods. Independently verified by the Energy Saving Trust and the Residential Property Surveyors Association, Q-Bot's technology has been shown to reduce heat loss in homes by up to 24%. Additionally, a separate study indicates that Q-Bot insulation can reduce running costs for properties with heat pumps by as much as 30%.

Beyond the economic benefits of reduced energy bills, Q-Bot's technology has the potential to upgrade homes significantly. Out of the 12.6 million homes in the UK rated Energy Performance Certificate D or below, 30% may only require Q-Bot's insulation to reach EPC C. This achievement aligns with key objectives of UK Government policy and comes at a fraction of the cost of alternative methods, without causing disruption. This makes the transition to a low-carbon economy far smoother for homeowners.

John Kennedy, the Chief Executive of Q-Bot, expressed his excitement about the new investment, stating, "With this latest tranche of funding, the welcome endorsement that we have from our investors and the UK Government, the energy efficiency commitments in the UK and overseas, and the public sector funding available to do this, Q-Bot has a strong platform to become a major, mainstream player within the retrofit sector and insulation market."

John Kennedy, who joined Q-Bot in late 2022, has been confirmed as the company's Chief Executive Officer. His extensive experience in senior executive finance and business roles in the insurance and technology sectors positions him well to lead Q-Bot into its next phase of growth.

Professor Peter Childs FREng, Chair and co-founder of Q-Bot, commended John's leadership, saying, "John has leveraged his extensive experience as CFO and CEO in growth businesses ranging from start-ups to publicly listed companies in technology and financial services."

With this latest investment, Q-Bot is poised to make significant inroads into the retrofit sector and the broader insulation market. Its combination of cutting-edge technology, government support, and a commitment to improving energy efficiency makes Q-Bot a noteworthy player in the journey toward a more sustainable and energy-efficient future.