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EcoSync Close to £1m Funding Target for Commercial Building Energy Solution

EcoSync Close to £1m Funding Target for Commercial Building Energy Solution
28 November 2022
 

A tech start-up that provides room-by-room energy management solutions for commercial buildings has raised close to £1 million in its second seed funding round. 

EcoSync, which was founded by Oxford University engineers, provides building managers with control over the heating of rooms on an individual basis, considering different occupancy levels and needs, whilst also allowing users to adjust temperatures via QR codes available for each room. Installation and activation of the system is possible in less than a day, with no planning or building regulations required and no disruption to building fabric or occupants.

The latest investments have come from existing investors, RO Capital Partners,the Oxford Innovation EIS growth fund and OION angel investors including Richard van der Knaap, Founder and Director of MCS Global Ltd.

Other investment is from angel investors Steve Headington, and Bruce Melizan, Chair at EcoSync and ES Global Ltd. The remainder of the funding was raised via Crowdcube.

Having secured over £1.5 million in the last two years through initial investments, grants and seed funding, the new investment will help the business to accelerate the development of its energy solution, which allows owners and operators of commercial buildings to reduce their heating bills and carbon footprint by up to half.

It will also allow the business to expand into new sectors beyond its initial focus on higher education properties, including offices, schools, and hotels.

 

“Stop Heating Empty Rooms”

 

Nick Pledge, CEO, EcoSync, said, “Commercial buildings are a big source of carbon emissions and are heavily impacted by the current energy cost crisis, and we provide a quick and economical answer to both issues.  Our solution is not simply a new tool to visualise data, it is a straightforward, low-cost, intelligent and easy-to-install way to dynamically control the building and deliver substantial results and quick payback for owners and occupiers alike.

“This funding will allow us to reach a cash-positive position where we will become self-funding, which is a very important step in our development as a company. It gives us the opportunity to expand into other sectors beyond higher education and grow our AI, sales and marketing functions to make the solution even more compelling and accelerate growth.”

Picture: a photograph of the EcoSync team from left to right: John Walsh, Sales Director, Zsuzsa Mayer, Founder, Nick Pledge, CEO Matt Bailey, Head of AI. Image Credit: EcoSync

Article written by Ella Tansley | Published 28 November 2022

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