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Birmingham startup Furbnow raises £950k to decarbonise homes

Image credit: Furbnow

Furbnow, a climate tech startup in Birmingham retrofitting homes to reduce carbon emissions, has raised £950,000 in pre-seed funding.

Founded in 2022, Furbnow was launched to reduce the carbon impact of the average household.

According to the Committee on Climate Change, homes account for approximately 20% of carbon emissions and a study from the Buildings Performance Institute Europe found that 97% of homes in Europe are classed as inefficient for net-zero targets.

Furbnow is looking to reduce the impact of homes on the climate by retrofitting homes with more efficient energy options.

The startup uses digital twin technology – a virtual replica of a physical environment – to test the impact of various solutions such as solar panels, heat pumps and insulation, on clients’ homes.

“Everyone deserves a warm, comfortable home without costly bills,” said Furbnow co-founder and CEO Becky Lane.

“Sadly, energy efficiency has been the poor relation to the low-carbon technologies that grab headlines. But if your home is cold and draughty, no amount of CO2 savings is going to be better for you.”

The company has partnered with Birmingham City Council for its ‘Route to Net Zero’ project to improve the energy efficiency of homes in the city that aren’t eligible for grant funding.

The investment round was led by SFC Capital and featured participation from Norrsken Accelerator and angel investor Daniel Luhde-Thompson.

“Retrofitting is a strong investment theme at the moment, and rightly so given its influence on getting us to net-zero and its potential impact on the cost of living crisis,” said Jason Druker, portfolio manager at SFC Capital.

Nearly half the emissions that cause climate change come from our offices, shops, schools and more critically from our homes. Furbnow can be an influential solution and is at the forefront of making retrofitting more accessible and affordable for households.

Further funds came from a grant from Innovate UK’s Future Economy Investor Partnership, Nesta and Founders Factory’s Mission Studio.

The funding comes as climate tech continues to establish itself as one of the leading sectors within tech.

Research from HSBC Innovation Banking and Dealroom found that in the UK, climate tech received the highest percentage of VC funding (29%)  for startups in 2023, raking in $6.2bn.