UK startup Igloo Energy secures more than half a million funding to help people cut energy expenses

This article will take you 1 minute(s) to read

Southampton-based startup Igloo Energy is in the mission to let homes use energy efficiently. The startup has generated over €690k through equity crowdfunding drive on UK-based leading crowdfunding platform Seedrs. In August 2018, Igloo Energy endured a fund infusion of €1.1 million for R&D from BEIS & Innovate.

Igloo Energy – a step towards smart energy

Igloo Energy has adopted innovative technology that enables users to consume energy smartly and reduce energy bills. The startup offers customised energy services with simple variable electricity and gas tariff.  

A green approach

Using smart meters, the startup analyses behavioural, property occupancy and surrounding environmental data inputs to lower the energy consumptions of users.  Further, Igloo Energy facilitates its consumers with a range of smart products to cut down their energy expenses and achieve minimal carbon footprints.

26,000+ consumers

Igloo Energy presents a seamless power solution enabling customers to opt for its services in just two minutes. Founded in 2016 by Duncan Ellis, Henry Brown and Matthew Clemow, the startup has a customer base over 26,000 with annual revenues in excess of €39 million.

Igloo Energy has accomplished over 30% growth on the Seedrs platform and is looking forward to utilising the fresh capital in developing cutting-edge technologies for offering smarter energy services.

Co-founder and CEO Matt Clemow stated, “From the funding from BEIS & Innovate, to being shortlisted for the World’s Best Energy Challenger Brand at CHARGE, 2018 was a fantastic year for Igloo Energy, capped off by the success of this Seedrs round. We look forward to bring all existing and new investors on the journey to see what 2019 has in store.”

Stay tuned to Silicon Canals for more updates in the tech startup world.

Scaling up in Europe: 5 do’s and don’ts of doing business in the Netherlands

Leave a Reply

*