Liverpool-based startup Heatio has secured £2m in funding to fuel its mission of making clean energy more accessible and affordable.
The platform, which was founded in 2022, will use the funding to expand its team and launch an updated version of its smart energy home management tool – Heatio Flexx.
Using AI and machine learning, Heatio aims to provide customers with tailored energy solutions based on their property type and how much energy individual households use, making the property more efficient and enabling customers to save money on their energy bills.
The investment, which will also go towards scaling the onboarding process for new customers, was led by venture capital firm Ascension.
Additional funding came from Conduit Connect, The Syndicate Room, LYVA Labs, deep tech investor Neil Norman and Baltic Ventures.
Working with E.ON and Energy Systems Catapult, Heatio said it will also provide a new renewable technology subscription called ‘Energy as a Service’ through a pilot contract for 350 homes in the North West, which will eliminate upfront costs for consumers considering heat pumps, solar PV, or battery storage.
CEO Simon Roberts said the investment would help Heatio provide more consumers with green energy.
“Our ability to help homeowners access affordable energy via our Flexx platform and VPP drives energy security and helps the UK get to a clean, green future. When we launched Heatio two years ago, our priority was to help more consumers access green technology and reduce the use of fossil fuels to decarbonise their homes. Through this investment, we are moving closer to making that a reality,” he added.
“I have no doubt that Heatio will continue to grow and make the world a better place with their laser-focused mission of creating a cleaner and greener future,” said Mo Aldalou, programme director at Baltic Ventures.
Read more: Liverpool tech report
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