UK-based Boldr secures $5M to connect home energy systems to the power grid
UK-based energy management startup Boldr has raised $5 million in a pre-Series A funding round to expand its technology that connects residential energy equipment and turns it into flexible capacity for the power grid. The round was led by Unconventional Ventures, with participation from Ada Ventures, Tetrad Ventures, Davidovs Venture Collective, Roxbury Asset Management, Inclimo Climate Tech Fund, Prosegur, Techstars, S20 Fund, and strategic investors from the North American HVAC industry. The new funding follows the company’s $3.2 million oversubscribed seed round raised last year.
Boldr is building an energy management platform that connects equipment inside homes, initially focusing on heating, ventilation and air conditioning (HVAC) systems. Its technology allows heating and cooling systems, batteries, EV chargers, and solar installations to work together as flexible energy resources by adjusting their power use based on grid demand.
Read More Related Article - Imperium Magazine
The company is initially targeting the HVAC market, which is one of the biggest sources of residential energy consumption in the US. Instead of selling directly to homeowners, Boldr partners with HVAC contractors that already install, maintain, and replace heating and cooling systems. These contractors serve as the deployment and service network for Boldr’s technology.
The next power plant won’t be one building. It will be millions of homes working together. But you don’t get there through a consumer app alone. You get there through the contractors who already install, service and replace the equipment that controls energy inside the home. Our job is to give them the technology to make that future possible,
said Madi Ablyazov, CEO and co-founder of Boldr.
Boldr’s smart thermostats and connected controls are designed to work with different heating and cooling systems. Its software gives contractors a clear view of installed equipment, helping them identify problems, manage maintenance and servicing, and stay connected with customers throughout the life of the equipment.
By connecting these systems, Boldr aims to help homes become part of distributed energy networks. During periods of high electricity demand, connected heating and cooling equipment can be coordinated to reduce or shift energy use. This could give power grids more flexibility without depending only on new power generation and transmission infrastructure.
The company has also secured nationwide distribution partnerships with HVAC brands and suppliers, including Bosch-owned Source 1 and Daikin. These partnerships give Boldr access to large networks of HVAC contractors across the US.
Boldr will use the new funding to expand its technology from ductless HVAC controls to residential and light commercial central HVAC systems. The company also plans to speed up product development and expand its contractor partnerships and distribution network across North America.
In the longer term, Boldr plans to connect other residential energy assets, including batteries, EV chargers and solar systems. Its goal is to bring these devices together into a network that can manage energy demand and provide flexible capacity to the power grid.