Lumo Energy, a clean-tech startup aiming to electrify homes in the UK by improving the efficiency of solar and battery systems by up to 30%, has closed an overfunded investment round led by Fuel Ventures. The company is preparing 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 developing a home energy optimisation platform, often referred to as a home energy management system (HEMS). The platform is designed to increase the efficiency of residential energy systems, with the aim of reducing household electricity bills and improving the return on investment and payback periods for solar and battery installations.
The funding will be used to accelerate product development, strengthen partnerships with UK installers, and scale the company’s energy platform. According to the company, its optimisation technology can increase the efficiency of solar and battery systems by 30% through intelligent management. With more than 160,000 solar battery systems sold in the UK last year and government plans to triple that figure by 2030, Lumo Energy is positioning itself to play a central role in the country’s residential energy transition.
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.
Alex Brummeler, Co-founder & Co-CEO
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.
Zander Gosling, Co-founder & Co-CEO
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.
Mark Pearson, Managing Partner at Fuel Ventures
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