This funding will propel the launch of its comprehensive platform aimed at streamlining the journey for homes to achieve Net Zero. The investment, led by SFC Capital and including contributions from Norrsken Accelerator, angel investor Daniel Luhde-Thompson, InnovateUK, and the Nesta/Founders Factory Mission Studio, marks a critical step for Furbnow, recently recognized in the Founders Forum’s European Climate Tech ‘One to Watch’ list.

Furbnow is addressing the urgent need for large-scale home retrofitting in the UK. To achieve the Net Zero targets by 2050, it's essential to retrofit two homes every minute. Furbnow steps in to fill the gap, offering support for those eager to make eco-friendly changes. A key initiative in this direction is the scheduled pilot with Birmingham City Council in early 2024, aiming to enhance energy efficiency in homes outside the scope of grant funding.

This new capital injection will advance Furbnow’s mission, led by co-founders Becky Lane, an energy efficiency industry expert, and Laurence Watson, a seasoned climate tech entrepreneur and data scientist. With nearly two decades of combined expertise, they are committed to retrofitting one million homes by 2030. Furbnow’s platform, which has already started aiding customers with retrofit projects, will use the funding to broaden its supplier network, thereby facilitating services like insulation, ventilation, and low-carbon heating installations.

Becky Lane, co-founder and CEO of Furbnow, asserts: “Everyone deserves a warm, comfortable home without costly bills and yet 11.7 million homes sit at the D energy rating or less. 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. We’re building Furnow to be the go-to platform for homeowners who want advice and support as they plan and install low carbon technologies and energy efficiency elements in homes.”

Furbnow's approach involves guiding homeowners through the Home Energy Plan and providing varied packages to support different stages of the project. They are also innovating in planning methods to offer affordable solutions for the domestic market, using building information and energy performance data. Furthermore, Furbnow is set to collaborate closely with green finance providers and insurers to ensure a comprehensive end-to-end service.

Matt Seden, Chief Strategy Officer at Nesta, commented: “Homeowners are increasingly interested in making their homes more climate-friendly, especially if they can save on their energy bills at the same time and still stay warm all year. Furbnow simplifies a retrofitting process that can otherwise be surprisingly complex and laborious, with end-to-end expert support, making it easy and convenient for homeowners. From its beginnings as a Mission Studio concept, Furbnow is now an innovative tech start-up in its own right, with the potential to help decarbonise a million homes and accelerate the UK's path to net zero."

Jason Druker, Portfolio Manager at SFC Capital, added: “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. 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. We are excited to be working with them and supporting their journey.”

Alex Bakir, GP, Norrsken Accelerator, also said: “Improving the efficiency of our building stock has been the elephant in the room in climate change discussions for decades. For the first time, Furbnow is bringing a holistic approach to the problem space, with a leadership team that knows the sector inside out, and is deeply committed to fixing it.”