London-based Q-Bot raises €4 million to transform the built environment with robotics and AI
Summary
Q-Bot, a company developing intelligent tools using robotics and AI that can inspect, monitor and maintain the health of our buildings and infrastructure, has secured a new tranche of investment, totaling more than €4 million. With the company’s advanced insulation installed in over 200 homes every month and following a 60% increase in revenue over the past 12 months, Professor Peter Childs FREng, Chair and co-founder of Q-Bot, said: “This investment is a strong endorsement of our work and recognition of the market opportunity that exists in the UK and overseas. Independent tests undertaken by Leeds Beckett University point to a 24% heat loss reduction in homes that have Q-Bot insulation, and in a separate study it has been shown that Q-Bot insulation reduces running costs for properties with heat pumps – by as much as 30%. Out of 12.6m homes in the UK that are rated Energy Performance Certificate D or below, 30% will only need Q-Bot’s insulation to reach EPC C (a key objective of UK Government policy), at less than a quarter of the cost of alternative methods and without disruption, making the transition to the low carbon economy far easier and pain-free. John Kennedy, Chief Executive of Q-Bot, added: “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.”