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Smart Boiler Maker Tepeo Raises £10M

Dec 15, 2022over 2 years ago

Amount Raised

£10 Million

WokinghamRenewable EnergyEnergy

Investors

Bonheur And Renewable Environmental Investments LtdClean Growth Fund

Description

Wokingham-based startup Tepeo has scooped £10.4m in a Series A funding round led by BGF for its smart boiler.

Company Information

Company

Tepeo

Location

Wokingham, England, United Kingdom

About

The decarbonisation of heating is one of the major unanswered challenges of the industrial strategy. Half of all the energy we use in the UK is for heating and it represents 30% of total UK carbon emissions. What’s more, 80% of the energy we use in our homes is for space or water heating and this still comes almost entirely from fossil fuels (gas and oil). tepeo was founded with the vision to develop low cost solutions to the decarbonisation of heat challenge. Our mission is to develop technology which can be the enabler for the migration of all UK homes from gas and oil boilers to zero carbon alternative heating systems without any additional costs to homeowners and while supporting the transition to a decentralised and decarbonised electricity grid. We have a growing cross-functional team of experienced engineers. We're working on it! If you're interested in getting involved, get in touch.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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