Heat pump startup Quilt raises $20M Series B to expand sales

In Brief

Quilt, the Redwood City-based, California startup that’s created sleek, customizable vigor pumps, has raised $20 cardinal successful a Series B circular that closed recently. The institution antecedently raised a $33 cardinal Series A, which it announced successful April 2024.

The caller circular was led by Energy Impact Partner and Galvanize with information from Alumni Ventures, Gradient Ventures, Incite Ventures, and Lowercarbon Capital. Veery Maxwell astatine Galvanize volition beryllium joining the board, arsenic volition erstwhile Nest CFO Tom vonReichbauer. (The second should travel arsenic nary astonishment fixed that galore Quilters utilized to enactment astatine Nest.)

The caller backing volition spell toward expanding the company’s footprint. Quilt has installed astir 1,000 units successful 16 U.S. states and 5 Canadian provinces, co-founder and CEO Paul Lambert said successful a note posted connected the company’s website.

Quilt has been a uncommon startup challenging entrenched incumbents successful the vigor pump market. To unseat them, the institution has taken a software- and design-first approach. One illustration is an over-the-air update the institution pushed to vigor pumps that were already installed; the caller bundle and firmware improved the show of existing units by much than 20%.

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