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Quilt raises US$33mn to launch its heat pump

Quilt, the California smart home climate solution start-up, has raised US$33 million in a Series A funding round, ahead of the launch of its heat pump on 15 May 2024.

Quilt's outdoor unit
Quilt's outdoor unit - Photo: Business Wire.

The funding round was co-led by Energy Impact Partners and Galvanize Climate Solutions, with participation from Lowercarbon Capital, Gradient Ventures, MCJ Collective, Garage Capital, Incite Ventures, and HGTV’s Property Brother Drew Scott.

Quilt says its advanced heat pump technology will give homeowners a sleek, modern system designed to blend seamlessly into any home environment, combined with intuitive room-by-room control, occupancy awareness, and predictive technology for unmatched energy efficiency and comfort.

Quilt will first launch in the San Francisco Bay Area, followed by Los Angeles, and then expand to new markets in the US to meet rising demand for a smart, intuitive, design-forward heat pump option. Quilt says its waitlist has thousands of interested homeowners.

“The promise of the energy transition is that the future won’t just be sustainable – it will be much better,” said Paul Lambert, co-founder and CEO of Quilt. “This promise has attracted world-class talent and investors to Quilt. Together, we’ve built the smartest way to heat and cool a home, for any homeowner who cares about comfort, control, design, or their energy bills.”

"One of our core beliefs for decarbonization is making the right thing for the planet also the easy thing to do. Quilt’s integrated hardware and smart technology strikes the perfect optimization of customer comfort, energy costs, and demand flexibility, enabling rapid residential electrification while still ensuring electric grid reliability,” said Sameer Reddy, managing partner, Energy Impact Partners.

“We’ve reached an inflection point in the energy transition and the shift from gas to electric heating and cooling is not only imperative but also inevitable. Quilt’s approach to climate control brings homeowners a superior heat pump experience while also reducing their energy bills,” said Tom Steyer, co-executive chair of Galvanize Climate Solutions.