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Heat Geek secures £4.2 million funding

Posted: Wednesday, March 6th, 2024

Heat Geek has secured a £3.7 million Seed funding round, bringing the total raised in 2023 to £4.2 million, according to HVP Mag.

The funding will power its mission to decarbonise homes via heat pump technology on a national scale.

Only 25,000 heat pumps were fitted in private homes last year, but with a government ambition of 250,000 a year by 2025 the issue of insufficient qualified installers needs to be addressed.

Currently, there are 120,000 qualified gas engineers in the UK, yet only 3,000 qualified heat pump installers and experts calculate the country will need 27,000 by 2028 to hit current government targets.

Founded by Adam Chapman, Aadil Qureshi (ex-Apple and IBM) and Matthew Gunn (ex-JP Morgan), Heat Geek’s new digital platform provides heating engineers with a “business-in-a-box”, empowering them with award-winning training, innovative technology and a pipeline of paying customers that have been pre-qualified using Heat Geek’s proprietary property intelligence algorithms.

A key factor in Heat Geek’s proposition and success to date is the creation and growth of the community of installers, which has 80,000 social media subscribers and 1,000 trained installers across the UK.

All Heat-Geek-certified installers will soon be given access to the digital platform, featuring unique tools, such as a digital surveying and system design process, a training and community hub, MSC certification, plus an end-to-end digital journey for homeowners; all of which ensures the company continues to offer the highest efficiency heat pump installations in the country.

The Heat Geek community is deeply involved with the development of the digital platform, ensuring the technology is built in absolute consideration of their needs as engineers and business owners.

This co-development culminated in bringing on board 15 of the community as shareholders of the company, ensuring the voice of the most important stakeholder is continuously integrated as the organisation scales.

 

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