Q-Bot was first founded in 2012 in order to use robotics and advanced manufacturing in order to revolutionise the building and construction industry. The company gains funding from a range of government grants, private investments and sales revenue. Recently, Q-Bot has closed on an investment round which has generated about £450,000. The leading development company has also been granted funding in the region of £1,050,000 by the EU Commission’s Horizon 2020 program.
The investment round was contributed to by a number of companies such as Minerva Investors Group, ClearlySo, Curious Capital, Chicago Booth Angels and London Business Angels. ClearlySo have said that they are proud to support such an innovative company as they look for more funding to expand. The funding from the investment round and the EU combined stands at £1.5 million. The money will be used by the company to expand into new markets.
One of the new projects that will be rolled out with the help of this investment is Q-Bot’s plan for retrofitting underfloor insulation. The company will be able to use the funds to offer the first affordable and completely scalable solution in the world to be found for this process. Research has shown that about 10 million homes are in need of under floor insulation in the UK. If you consider the amount of homes that could use underfloor insulation across Northern Europe and the US, it becomes clear that there is a large market waiting for a solution that could reduce fuel poverty as well as cut down of energy bills.
Q-Bot’s solution will use robots that can be deployed through only a small space, map and survey the space under the floor, apply insulation where it is needed and then double check that the work is done properly. This solution will have the ability to transform cold and draughty spaces into warm and cozy rooms while reducing energy bills.
