Proptech firm heats up growth plans with £2.5 million support

A proptech firm says it is primed to build for the future after seven-figure support.

Furbnow has secured a £2.5 million seed round boost.

The company says the cash will create jobs, bolster its technology platform and fuel UK expansion plans.

Based in Birmingham, the firm is known for supporting the spectrum of retrofitting work from home energy assessments to installation work.

Counting partnerships with Surrey County Council, Gloucestershire County Council and West Yorkshire Combined Authority, it has also supported more than 1000 homeowners.

Its seed round was led by the West Midlands Co-Investment Fund at Future Planet Capital Regional alongside Nesta, Wrightwood Investments, Danny Luhde-Thompson, SFC Capital and angel investors.

Becky Lane, Furbnow co-founder and chief executive, said: “I started the business out of frustration with my own experience of improving the energy efficiency of my home and delivering large-scale retrofit programmes.

“This investment will enable us to accelerate product development and scale relationships with suppliers.

“This funding brings us one step closer to making a significant environmental and economic impact.”

Huw Sparkes, Future Planet Capital Regional investment manager, added: “Furbnow’s platform is a game-changer for the residential retrofit market.

“By automating assessments and streamlining project management, it is making home decarbonisation achievable at scale.”

The West Midlands Co-Investment Fund was launched by the West Midlands Combined Authority and West Midlands Pension Fund.

Richard Parker, West Midlands mayor, added: “It’s essential we back innovative businesses like Furbnow, which have the ideas and technical know-how to improve people’s lives and create skilled jobs.

“Furbnow's technology is made in Birmingham, but it has the potential to help build a more sustainable, prosperous future for people and businesses far beyond our region.”

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