• Heating accounts for 37% of UK emissions. Radbot wants to reduce this
• Investment round to focus on commercial growth
December 11, 2019: Award-winning, clean tech company, Vestemi, has announced that it is now crowdfunding on investment platform, Seedrs, to raise second-round investment for its energy saving product, Radbot. https://rebrand.ly/r4cf7c
One of the key aims of the crowdfunding campaign is to focus on driving commercial growth across Radbot’s key routes to market. This includes driving sales activities and growing strategic partnerships, across business, trade, and consumer channels, alongside a large-scale opportunity to participate in a government scheme known as ECO3.
Under ECO3, UK energy suppliers are obligated to spend £640 million each year installing approved energy efficiency measures in UK homes. Following a successful trial (now underway), Radbot will be positioned to take advantage of this sizeable market opportunity.
Radbot is a smart heating control that heats rooms when occupied and reduces the temperature when empty, saving householders up to 30% on heating bills. That’s around £180 per year for a typical semi-detached home. It can be used in any home that has gas heating with radiators, which is about 90% of UK households.
Jeremy Lock, CEO, Vestemi says: ‘There are over 1 billion radiators across the UK and Europe. When you combine this figure with the fact that we lose billions every year on wasted or unnecessary heating, it’s clear urgent action needs to be taken to increase energy efficiency. Our mission is to reduce emissions and save energy, whilst enabling householders to lower their heating bills.’
Radbot is now live on the Seedrs platform. For more information, click here. https://rebrand.ly/r4cf7c
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About Vestemi
Vestemi is a technology company with a social purpose. Founded in 2018, our vision is to create simple, effective consumer products that make energy savings easy and accessible to everyone. We believe that empowering our customers through the use of technology is the most effective way to sustain lasting action on climate change. www.radbot.com
About Seedrs:
Seedrs allows all types of investors to invest as little or as much as they like in businesses they believe in and share in their success. And it allows ambitious businesses in all sectors to raise capital and build community through an efficient, online process.
Seedrs has funded over 920 deals to date and has had over £760 million invested on the platform. All investments made through Seedrs offer voting shares to investors and use professional grade subscription agreements. This ensures that investors get the same level of protection that angel investors and venture capitalists enjoy.
Seedrs is backed by Augmentum Fintech PLC, leading European Venture Capital firms as well as over 2,500 of its own customers. Seedrs is authorised and regulated by the UK Financial Conduct Authority.
Media contact
Lisa Doherty
Lisa.doherty@vestemi.com
07973 919514
