Igloo secure £600K in Seedrs Crowdfund
Following an equity fundraising round on Seedrs, Igloo home energy start-up has raised over £600K, which will be used to develop the capabilities of the firm’s smart technology and expand its customer offering.
Igloo beat their £500K target, raising £606,918 from over 500 investors in 26 countries. This follows £1m in funding from the Department for Business, Energy and Industrial Strategy (BEIS) and Innovate UK.
Igloo sells one simple data variable electricity and gas tariff, and uses data on each home to deliver personalised energy insights for the customer. Igloo has already attracted more than 26,000 customers and generates revenues of more than £34m.
Matt Clemow, co-founder and CEO of Igloo, said: “From the funding from BEIS and Innovate, to being shortlisted for the World’s Best Energy Challenger Brand at CHARGE, 2018 was a fantastic year for Igloo, capped off by the success of this Seedrs round.
“We look forward to bring all existing and new investors on the journey to see what 2019 has in store.”