Q-Bot raises £3M to fund the next stage of its growth and innovation
Q-Bot has successfully completed a £3m Series A investment round. It was backed by investors including Wealth Club, EMV Capital and Foundamental. Q-Bot also received continued support from its existing investor base.
With this investment, Q-Bot aims to continue its growth to meet the needs of social landlords as well as expand sales to private homeowners and international markets.
Q-Bot’s CEO, Mathew Holloway declared:
“I am delighted that we have found a group of investors who share Q-Bot’s vision to become the world leader in robotic solutions that inspect and apply materials to buildings. From surveying tower blocks to manoeuvring around under suspended floors to apply insulation, Q-Bot’s technology is being used to transform processes across the construction sector. Our customer-led approach, paired with a unique combination of robotics, AI and building expertise, has allowed us to identify a huge commercial opportunity to disrupt the status quo and in doing so, strengthened the potential to have a positive social and environmental impact.
The successful closing of our latest investment round will allow us to accelerate our growth plans, move into new markets and expand our technology portfolio.”
Foundamental‘s Managing Partner, Rani Saad said “Q-Bot is emerging as a strong leader in robotic and AI solutions for inspecting and applying materials to built structures. It’s remarkable not just for its prolific development of cutting-edge technology, but also for its success in commercialising these solutions at scale. We believe that Q-Bot is well on its way to achieving its ambitious global vision, and we’re excited to join the team for the ride.”
Alex Davies, CEO of Wealth Club, commented “This was a popular offer with our investors who parted with £1.3 million in less than 5 weeks. As any landlord will know, insulating older properties can be massively disruptive. With traditional methods of underfloor insulation, you need to rip up floorboards which is not only expensive but also means your properties are out of action and not earning you rent. Q-Bot provides an innovative solution which is already proving itself. The addressable market is huge. 43 million houses in the US and Europe could potentially benefit.”
EMV Capital MD Dr.Ilian Iliev noted “We have been pleased to support Q-Bot from the outset of its development. The company was an early entrant in the robotics revolution in the construction industry. The management’s consistent focus on execution is now paying off. We were pleased to see EMVC investors play a major part in this round”