Written by Christina Levada
Lumo Energy, the clean-tech startup on a mission to help electrify every home in the UK by making solar & batteries up to 30% more efficient, announced the successful close of an overfunded investment round led by Fuel Ventures. This show of investor confidence comes as Lumo prepares for its commercial launch this month.
Founded by energy sector veteran Alex Brummeler and Zander Gosling the Founder of PurpleBricks (previously Strike), Lumo Energy is building a home energy optimisation platform, often referred to as a home energy management system (HEMS), that massively increases the efficiency of home energy systems, helping customers achieve zero electricity bills and enhance the return on investment and payback periods of these systems.
The fresh funding will accelerate product development, support Lumo’s partnerships with leading UK installers, and help scale the Company’s innovative energy platform. The optimisation platform already boosts the efficiency of solar & batteries by 30% through intelligent optimisation. With more than 160,000 solar battery systems sold in the UK last year – and government’s ambition to triple that figure by 2030 – Lumo is well-positioned to lead what’s being described as the “rooftop revolution.”
Alex Brummeler, Co-Founder and Co-CEO of Lumo Energy, commented:
“Our goal is simple: to make solar & batteries, EV charging, and heat pumps smarter, work holistically and more cost-effective for every household. This investment will help us accelerate toward that goal. Whether you're installing these devices for the first time or already have these systems in place, Lumo can unlock more value for homeowners.”
Zander Gosling, Co-Founder and Co-CEO of Lumo Energy, added:
“We're incredibly proud of the progress our team has made, and the trust our investors and angels have shown by overfunding this round. With energy prices and climate concerns rising, there’s never been a more urgent time for households to electrify their homes to enable greater use of renewables.”
Mark Pearson, Managing Partner at Fuel Ventures, added:
“We’re backing Lumo Energy because it’s led by a truly exceptional founding team with a proven track record of building and scaling high-growth businesses. Alex and Zander bring deep sector and business expertise and they’re applying that experience to one of the most exciting opportunities in clean tech today. With energy at the top of the national agenda, Lumo’s smart, scalable approach to home energy optimisation couldn’t be more timely. We’re proud to lead this overfunded round and support them in accelerating the UK’s residential energy transition.”
About Lumo Energy
Lumo Energy is a UK-based clean tech startup helping households cut energy bills and carbon emissions with low carbon technologies, such as residential solar & battery systems, EV chargers and Air source heat pumps. Through intelligent software and strategic partnerships with trusted installers, Lumo maximises the efficiency of these technologies — helping make the UK’s homes greener and smarter, accelerating their electrification journeys.
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