Clean-tech firm Switchee bags £605,000 in seed funding
Finance will enable company to expand reach of smart thermostat that measures energy usage and informs improvements and efficiencies
Switchee, a clean technology start-up, has raised £605,000 in seed funding led by ClearlySo, Mustard Seed Ventures and Ian Nolan – a member of the ClearlySo network.
London-based Switchee has developed a smart thermostat for large social housing landlords that uses analytics to help them better manage properties, including matching energy usage to residents’ weekly routines to inform improvements and efficiencies.
As well as helping to reduce the cost of service delivery, the technology can save tenants money by detecting when a property is unoccupied and turning the heating off.
Supported by Wayra UK’s acceleration programme and Pi Labs, the finance will be used to expand the reach of the smart thermostat technology.
Adam Fudakowski, co-founder and managing director of Switchee, said:
“The feedback to date from our pilots with housing associations has been extremely encouraging, from landlords and residents alike.
“We are focused on a significant summer installation programme into 11 housing associations and, thanks to the overwhelming success of this funding round, we can meet growing demand and substantially upgrade our analytics to deliver an even better return on investment for our clients and lower fuel bills for residents.