UK-BASED ROBOTICS COMPANY SECURES £3M IN FUNDING
Q-Bot raises £3M to fund growth and innovation in the construction sector
[LONDON, UK] Q-Bot, a UK-based robotics company that has developed a solution to remotely apply underfloor insulation, has successfully completed a £3m Series A investment round to fund the next stage of its growth.
Q-Bot has developed a range of robotic and AI technologies that can survey, maintain and upgrade buildings. Q-Bot uses robots to apply underfloor insulation underneath suspended floors to improve their energy efficiency and comfort with much less disruption and cost than traditional methods. Q-Bot’s customers include housing associations, local authorities, private homeowners and landlords.
The investment round, which was oversubscribed, was backed by investors, including:
• Wealth Club;
• EMV Capital;
Q-Bot also received continued support from its existing investor base. With this investment, Q-Bot aims to continue its growth to meet the needs of social landlords as well as expand sales to private homeowners and international markets.
Q-Bot’s CEO, Mathew Holloway said:
“I am delighted that we have found a group of investors who share Q-Bot’s vision to become the world leader in robotic solutions that inspect and apply materials to buildings. From surveying tower blocks to manoeuvring around under suspended floors to apply insulation, Q-Bot’s technology is being used to transform processes across the construction sector. Our customer-led approach, paired with a unique combination of robotics, AI and building expertise, has allowed us to identify a huge commercial opportunity to disrupt the status quo and in doing so, strengthened the potential to have a positive social and environmental impact. The successful closing of our latest investment round will allow us to accelerate our growth plans, move into new markets and expand our technology portfolio.”
Foundamental‘s Managing Partner, Rani Saad said “Q-Bot is emerging as a strong leader in robotic and AI solutions for inspecting and applying materials to built structures. It’s remarkable not just for its prolific development of cutting-edge technology, but also for its success in commercialising these solutions at scale.
We believe that Q-Bot is well on its way to achieving its ambitious global vision, and we’re excited to join the team for the ride.”
Alex Davies, CEO of Wealth Club, commented “This was a popular offer with our investors who parted with £1.3 million in less than 5 weeks. As any landlord will know, insulating older properties can be massively disruptive. With traditional methods of underfloor insulation, you need to rip up floorboards which is not only expensive but also means your properties are out of action and not earning you rent. Q-Bot provides an innovative solution which is already proving itself. The addressable market is huge. 43 million houses in the US and Europe could potentially benefit.”
EMV Capital MD Dr.Ilian Iliev noted “We have been pleased to support Q-Bot from the outset of its development. The company was an early entrant in the robotics revolution in the construction industry. The management’s consistent focus on execution is now paying off. We were pleased to see EMVC investors play a major part in this round”
-ENDSFor more information, contact:
Q-Bot Limited was founded in 2012 with the goal of using robotics and AI to transform the construction industry. Q-Bot’s solutions enable the delivery of innovative new services for the inspection, maintenance and upgrade of buildings which empower workers, improve safety, are cost-effective, and efficient. Q-Bot is revolutionising the industry by connecting the built environment with robotics and AI, to rethink processes that have remained unchanged for hundreds of years.
Q-Bot has already brought to market a unique solution, using a robotic device to apply insulation under a suspended floor. The solution is cheaper, performs better, and has none of the logistical hassle and disruption of more traditional methods. The Q-Bot solution not only improves the energy efficiency of homes, it also eliminates the discomfort caused by cold draughts coming up through floorboards. The solution is fully accredited by the BBA and meets all relevant building regulations. www.q-bot.co
Foundamental is a global VC fund investing in disruptive, innovative firms solving important, meaningful challenges in the construction and built world spaces. Backed by one of the leading building material suppliers in the world, their mission is to add construction specific value beyond capital, by providing support to ventures in such areas as international commercialisation, field intelligence and data strategy. They do this with their deep knowledge of both construction and cutting-edge technologies.
About Wealth Club:
Wealth Club offers experienced investors more compelling and advanced investment opportunities than those normally available through mainstream investment platforms and financial advisers. Wealth Club Asset Management Limited is a wholly owned subsidiary of Wealth Club Limited. Clubfinance is a trading name of Wealth Club Asset Management Ltd.
About EMV Capital:
EMV Capital Ltd (EMVC) is a London-based early-stage venture investor focused on B2B companies in the industrial high-tech, energy, circular economy, smart cities and transportation sectors and healthcare. EMVC’s investments in Europe, Israel and the US cover a range of technologies including robotics and AI, machine learning, materials science, IoT, advanced engineering, power electronics and medical devices. EMVC’s model is to develop a customized investment strategy for each company, combining its network of investors from Family Offices, Wealth Managers, Institutional VC investors and Corporate VC funds. EMVC recognizes the benefits of corporate engagement for early-stage technology companies, with EMVC’s team having led and structured investments alongside some of the world’s leading corporations, including ABB, Philips Lighting (Signify), Evonik Industries, Mitsubishi and Flex.