We are pleased to announce that Heero Technologies, a high-growth green tech software and data company based in Dundee, has secured significant new investment from Scottish Enterprise, TRICAPITAL, and Mint Ventures to further develop its innovative energy efficiency App.
Heero was formed by Shackleton as a spin-out that arose from the successful sale of IRT Surveys last year. The company was initially funded by Shackleton Secondaries 3 LP and Shackleton Ventures.
One of the most critical challenges for the government to achieve its net zero ambitions, is improving the energy efficiency of 19 million homes across the UK. The start-up has developed an App aimed at guiding homeowners through the entire retrofit journey, while streamlining the user experience, overcoming the multitude of barriers and complex guidance homeowners encounter when trying to reduce their energy bills.
The App not only delivers personalised home energy efficiency recommendations, but also addresses challenges such as the disruption caused by invasive retrofit measures, confusion over financing and government grants for energy efficiency, the lack of flexibility and choice over technology, which installers to use, not to mention which manufacturer.
Speaking at the investor event, Nicola Kennedy, CEO of Heero Technologies, said: “Hitting the government’s net zero targets requires a major improvement in the energy performance of the UK’s housing stock and our technology has a leading role to play. Essentially, our App helps homeowners and landlords seamlessly and conveniently navigate home energy efficiency improvements via their Smartphone.”
“We are thrilled to welcome Scottish Enterprise, TRICAPITAL and Mint Ventures to our investor base. The combined investment from these three exciting new partners will support our determination to accelerate the adoption of energy efficiency technology and realise our vision of equipping homeowners with the knowledge and tools to make net zero homes a reality.”
Director of Entrepreneurship and Investment at Scottish Enterprise, Kerry Sharp said: “The app is an ingenious solution allowing people to access and assess green heat solutions for their homes and I will watch the company’s growth with interest as Scottish Enterprise continues to invest in purposeful, impactful and diverse businesses.”
The investment from Scottish Enterprise, alongside that of TRICAPITAL and Mint Ventures, will enable Heero Technologies to further develop and scale the App and website, unlocking the company’s next phase of growth.
Of particular interest to Mint Ventures, a group which is democratising angel investment, is Heero Technologies’ diverse leadership, with the company boasting a woman CEO and predominantly female board.
Alongside the investment, Heero Technologies also announced it has signed its first customer, a nationally recognised building society, which will see the App rolled out to approximately 350,000 users.
Said Kennedy: “This is a positive endorsement of the Heero Technologies team and the solution we have created. We are excited about rolling out the project in the coming months.”
About Heero Technologies
Heero Technologies is a B2B software and data company which delivers agnostic, trusted, and bespoke property information that enables seamless end-to-end installation of energy efficiency and renewable technologies in privately owned properties. Launched in 2022, the company is a spinout of IRT Surveys, a 20-year-old venture-funded global software technology company that has pioneered the use of thermal imaging to understand and communicate building performance.
About Scottish Enterprise
Scottish Enterprise (SE) is Scotland’s national economic development agency and a non-departmental public body of the Scottish Government. It supports businesses to innovate and scale to transform the Scottish economy by focusing on new market opportunities through targeted investment, innovation, and internationalisation.