Quilt Raises $20 Million to Propel Heat Pump Innovation Forward

Transforming Residential Heating with Cutting-Edge Solutions

Quilt, a Redwood City-based innovator specializing in sleek, customizable heat pumps, has secured $20 million in a Series B funding round. this fresh capital follows their remarkable $33 million Series A raise earlier in 2024, reflecting robust investor enthusiasm for the company’s mission to revolutionize home heating.

Key Investors and Strengthened Leadership Team

The latest funding was led by Energy Impact Partners and Galvanize, with additional support from Alumni Ventures, Gradient Ventures, Incite Ventures, and Lowercarbon Capital. Veery Maxwell of Galvanize will join Quilt’s board alongside former Nest CFO Tom vonReichbauer-bringing seasoned expertise that complements the team’s deep roots in smart home technology. Many Quilt employees previously played pivotal roles at Nest.

Rapid Expansion Across North America

Co-founder and CEO Paul Lambert shared that Quilt has installed nearly 1,000 units spanning 16 U.S. states and five Canadian provinces. The new investment is intended to accelerate production capacity and broaden market reach as demand for energy-efficient heating solutions continues to rise amid increasing consumer awareness of sustainability.

A Software-Centric Model Driving Continuous Betterment

Diverging from customary heat pump manufacturers focused primarily on hardware upgrades, Quilt prioritizes software innovation. Recently deployed over-the-air updates boosted the efficiency of existing units by over 20%,illustrating how digital enhancements can substantially improve performance without physical modifications-a strategy increasingly vital as smart home technologies evolve.

The Critical Role of Heat Pumps in Global emission Reduction Efforts

Residential heating contributes roughly 17% of worldwide greenhouse gas emissions; thus heat pumps are emerging as essential tools for decarbonizing homes globally. By integrating intelligent controls with user-kind designs tailored for diverse climates across North America, companies like quilt are accelerating adoption rates crucial to meeting climate targets.

• Energy Impact Partners: prominent investors championing lasting energy breakthroughs.
• Galvanize: Venture capital firm backing transformative climate tech ventures.
• lowecarbon Capital & Alumni Ventures: Dedicated supporters of startups advancing decarbonization goals.
• Nest Alumni influence: Experienced executives from Nest contributing valuable insights into next-generation smart heating solutions.

The Road Ahead: Scaling Intelligent Heating Solutions Nationwide

The surge toward widespread heat pump adoption is expected to intensify as governments enforce stricter efficiency regulations while consumers seek relief from escalating energy costs. By combining elegant hardware engineered for varied environments with ongoing software enhancements delivered remotely, Quilt aims to establish itself as a leading brand synonymous with innovative home comfort technology throughout North America.

“Our goal extends beyond selling devices-we strive to redefine how people experience warmth at home while minimizing environmental impact,” emphasized Paul Lambert during a recent company update.