Heero Technologies, a high growth cleantech software and data company based in Dundee, has successfully completed a seed investment of £550,000. The investment, the first tranche of which was completed in April, was led by The TRICAPITAL Syndicate LLP, and supported by Scottish Enterprise. Angel investment group Mint Ventures also participated in April.

The investment will see the start-up, which was launched in 2022, develop and scale its innovative energy-efficiency App and website while unlocking its next phase of growth.

The Heero App is 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. 

However, it 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.

Commenting on the successful investment, Nicola Kennedy, CEO of Heero Technologies, said: “We are thrilled to be working with TRICAPITAL and Scottish Enterprise and are delighted that they have decided to support our business. 

Our mission is to accelerate the adoption of energy efficiency technology that offers significant and tangible economic, environmental, and social benefits on the road to net zero, and this latest investment means we are well positioned to execute these ambitious plans.”

Moray Martin, Managing Partner at The TRICAPITAL Syndicate LLP, said: “There is a lot of noise currently around impact investing and the delivery of net zero. Heero’s intuitive technology brings focus to the ‘how to’ aspect by allowing us all, as individuals, to demonstrate, identify, measure, and then implement our personal contribution.”

Director of Entrepreneurship and Investment at Scottish Enterprise, Kerry Sharp, echoed this: “It is fantastic to witness Heero’s growth. Its technology is a game-changer in making energy efficiency measures easier to navigate and highlights a truly innovative company and product that impacts people’s lives. 

Scottish Enterprise is focussed on supporting companies to grow and scale by investing in purposeful and diverse businesses to the benefit of the Scottish economy.”

The funding received in April and September is helping accelerate development of the Heero App and has contributed to the company’s growth, Heero Technologies has grown from one full-time employee to a team of five people. The company has also been shortlisted for two Women’s Enterprise Scotland Awards; the women-led start-up has been announced as finalists in both the Funded Business of the Year and Business to Watch categories.

Kennedy concluded: “This is a positive endorsement of the Heero Technologies team and the solution we have created. We are grateful to our investors, who are deeply supportive of the Heero team and our strategy, and who share the same ambitions and values. We look forward to applying the funding towards enhancing our proposition and accelerating our growth.”