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Igloo, the smart home energy service raises over £600k

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by Startacus Admin

Igloo energy
Igloo Energy, the smart home energy service, on a mission to make customers' homes smarter, more efficient and cost less to run, has raised over £600K from 512 investors on leading equity crowdfunding platform Seedrs. 

Having received £1m in Research & Development funding in August 2018 from BEIS & Innovate, Igloo set their funding target on Seedrs at £500,000, however due to high demand, the campaign has raised £606,918. The startup will use the funds to further develop the capabilities of its smart technology and expand the customer offering.

Based on the south coast in the startup city of Southampton, Igloo uses smart technology alongside energy retail, to help customers lives simpler, while helping them saveIgloo energy and money. 

With customers able to switch to Igloo in just 2 minutes, and a single energy tariff approach minimising customer effort, it is unsurprising that in just over 18 months the Company has attracted over 26,000 customers and has seen annualised revenues of over £34 million.  

Co-founded by Matt Clemow, Henry Brown and Duncan Ellis, Igloo combines smart technology with simple actionable advice to help consumers understand how each home uses energy, and make it cheaper to run.

The startup achieves this by selling one simple variable electricity & gas tariff, and using data on each individual home to deliver personalised energy insights for each customer. The integration of smart meter data with property, environmental, occupant and behavioural data is core to delivering one of the most transparent energy services on the market.

Igloo EnergyCo-Founder and CEO Matt Clemow commented: “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, 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”.                                                                               

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 750 deals to date and has had over £520 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.

Looking for Investment for your tech startup? Join Startacus' equity crowdfunding themed webinar with Seedrs

Join our Webinar on 15th March 2019 and hear from Seedrs about the key benefits of raising capital through equity crowdfunding.

raising capital through equity crowdfunding




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Published on: 22nd February 2019

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