Quilt, a California-based startup, has raised $20 million in a recent Series B funding round. The investment, led by Energy Impact Partner and Galvanize, with contributions from Alumni Ventures, Gradient Ventures, Incite Ventures, and Lowercarbon Capital, aims to support the company’s expansion of its heat pump sales operations to more regions.
The funding announcement comes after Quilt’s earlier $33 million Series A round in April 2024. Notable figures like Veery Maxwell from Galvanize and former Nest CFO Tom vonReichbauer will be joining Quilt’s board, reflecting the company’s strategic growth plans.
Quilt has made significant strides in the heat pump market, prioritizing software and design innovations. For instance, the company’s recent over-the-air update to existing heat pumps resulted in a performance boost of over 20%, showcasing Quilt’s commitment to enhancing user experience and product efficiency.
With nearly 1,000 units already installed across 16 U.S. states and five Canadian provinces, Quilt’s expansion efforts are poised to introduce its heat pump solutions to a wider audience.
Source: TechCrunch