Pictured (from left): Gillian Fleming of Mint Ventures, Nicola Kennedy of Hero Technologies, Cathy Kinder of The Tricapital Syndicate LLP, and Deborah Hudson of Shackleton Ventures.
Scottish cleantech software and data company Heero Technologies has secured £550,000 investment from TRICAPITAL Syndicate, Scottish Enterprise and Mint Ventures.
The capital injection is intended to further develop and expand the company's energy efficiency applications and website, unlocking the company's next stage of growth.
One of the Government's most important challenges to reaching its net zero target is improving the energy efficiency of 19 million homes across the UK.
Founded in 2022, the startup developed an app that aims to overcome the numerous barriers and complex guidance homeowners encounter when trying to reduce their energy bills, guiding them through the entire renovation process while streamlining the user experience.
As well as providing personalised home energy efficiency recommendations, the app also addresses the confusion caused by invasive retrofit measures, confusion around energy efficiency funding and government subsidies, and the lack of flexibility and choice when it comes to technology, not to mention which installers to use, let alone which manufacturers.
Speak at an investor event Nicola KennedyThe Hero Technologies CEO said: “Achieving the government's net zero targets will require significant improvements in the energy performance of the UK's housing stock, and our technology will play a leading role.”
“Our app helps homeowners and landlords seamlessly and conveniently make energy efficiency improvements to their homes via their smartphones.
“We are thrilled to welcome TRICAPITAL, Scottish Enterprise and Mint Ventures as our investors. The combined investment from these three exciting new partners will support our determination to deliver on our vision of accelerating the adoption of energy efficiency technologies and equipping homeowners with the knowledge and tools to achieve net-zero homes.”
Participate in the event Moray Martin“There's a lot of noise right now around impact investing and achieving net zero,” said , managing partner at lead investor TRICAPITAL Syndicate LLP.
“This intuitive technology focuses on the 'how' by empowering all of us, as individuals, to demonstrate, identify, measure and act on our personal contributions.”
Director of Entrepreneurship and Investment at Scottish Enterprise; Kelly Sharp“The app is an ingenious solution enabling people to access and evaluate green heating solutions for their home and I will be watching the company's growth with interest as Scottish Enterprise continues to invest in purposeful, impactful and diverse businesses,” said.
Of particular interest to Mint Ventures, a group democratizing angel investing for women, is the diversity of Hero Technologies' leadership: the company is led by a woman and its board of directors is made up primarily of women.
Gillian Fleming“We are pleased to participate in this investment, which aligns closely with our core values,” said Mint Ventures' CEO.
“Inclusivity is a key component of innovation and Heero Technologies is a perfect example of a young, ambitious, female-led company providing much-needed, accessible information for consumers to manage their home energy.”
“We look forward to supporting them as they go from strength to strength.”
Alongside the investment, Hero Technologies announced it had signed its first customer, the National Building Society, to roll out the app to around 350,000 users.
“This is a positive endorsement of the team at Hero Technologies and the solution we have developed, and we are excited to be rolling out the project in the coming months,” said Kennedy.
