EMV Capital leads £3.5 million investment into construction tech robotics developer
By Catrin Jones15 September 2023
Q-Bot, a company that develops robots for use in the construction and retrofit industry, has completed a £3.5 million investment round.
EMV Capital led the funding, which was syndicated from private investors and family offices. Wealth Club, the UK’s largest investment service for high net worth and experienced investors, and Adjuvo, a London-based investment syndicate, also supported the round.
Q-Bot says that the new funding will help the company expand into Europe and the USA and further its growth in the UK market. Alongside this, Q-Bot has appointed John Kennedy as its new CEO.
Using AI and robotics, Q-Bot’s insulation is installed beneath suspended floors to reduce heat loss and prevent cold air draughts. The company’s advanced insulation has been installed in over 200 homes every month, and its revenue has increased by 60% over the past year.
Q-Bot’s insulation is said to be able to help insulate the 8 to 12 million homes in the UK with suspended floors that are difficult to treat using traditional insulation methods.
Dr Ilian Iliev, MD of EMV Capital and Investment Director of Q-Bot, commented, “We are pleased to see Q-Bot close out this important fundraising. The company continues to make strong progress in scaling sales with its innovative use of robotics and artificial intelligence in the Construction Technology industry, and in particular in the retrofit home insulation market. This investment demonstrates the benefits and impact of EMV Capital’s differentiated investment strategy, combining value creation services and fundraising support.”