Q-Bot, a developer of robots for use in the construction and retrofit industry, has secured £3.5 million investment and appointed a CEO.
EMV Capital, a VC investor specialising in early-stage high-growth DeepTech companies and an existing backer of Q-Bot, syndicated the funding from a cohort of private investors and family offices.
The funding round was also supported by Wealth Club, the UK’s largest investment service for high net worth and experienced investors, and for the first time Adjuvo, a London-based investment syndicate. The new funding will support Q-Bot’s growth in its principal UK market and expansion into Europe and the USA.
Q-Bot was founded in 2012 by CTO Tom Lipinski and chair Professor Peter Childs. It has also announced the appointment of John Kennedy, who joined the company in late 2022, as its new CEO.
Kennedy has extensive experience as CFO and CEO in growth businesses ranging from start-ups to publicly listed companies in technology and financial services.
Using AI and robotics, Q-Bot’s insulation is deployed beneath suspended timber floors or to the underside of suspended concrete floors. A remotely operated robotic device applies a continuous layer of spray-foam insulation to the underside of the floor, resulting in a reduction in heat loss through the floor and a barrier to cold air draughts.
Q-Bot’s advanced insulation is installed in over 200 homes every month, with revenues increasing by 60% over the past 12 months. In the UK alone, Q-Bot’s high performance retrofit insulation can help insulate the 8 to 12 million homes that have suspended floors and which are hard to treat using traditional forms of insulation.
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Lord Callanan, the UK Energy Minister with responsibility for Energy Efficiency and Green Finance, recently visited Q-Bot’s new head office and retrofit research centre in London. During his visit, Lord Callanan praised Q-Bot’s cutting-edge work and the contribution that Q-Bot was making to improve the energy efficiency of homes across the UK and in reducing carbon emissions, a vital component in the journey towards Net Zero.
“This investment is a strong endorsement of our work and recognition of the market opportunity that exists in the UK and overseas,” said Professor Childs.
“Our customers, from private individuals to energy suppliers and providers of social housing are assured by the comprehensive and professional approach that we take towards insulating homes whilst leveraging use of state-of-the-art robotics and AI.”
Kennedy 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.”