Quilt Secures $33M Series A Funding to Revolutionize Heat Pump Industry

Heat pumps are currently seeing increased popularity, outselling gas furnaces for the second consecutive year. Homeowners are eligible for significant incentives under the Inflation Reduction Act for installing them. However, consumer adoption of new technology, especially in heating and cooling, poses a challenge.

Paul Lambert, the co-founder and CEO of Quilt, is focused on addressing consumer hesitancy in bringing the company's new heat pump to market.

Quilt aims to offer a sleeker design compared to traditional heat pumps, with the ability to be installed in various locations within a room. While only a teaser image has been released, the company will reveal the finished product on May 15. Quilt has developed the core system in-house and is partnering with a manufacturer for production.

Aside from design, traditional heat pumps struggle with operation methods. Quilt has centralized controls for its system, simplifying temperature adjustments throughout the house. Each room has a head unit for temperature sensing, and users can control settings either through a physical thermostat or the Quilt app.

Quilt's approach to control offers a level of integration not commonly found in consumer heat pumps. Additionally, the company has incorporated millimeter-wave occupancy sensors to optimize energy usage based on room occupancy data.

Quilt raises $9M seed round to become the Nest of heat pumps

Quilt has raised a significant $33 million Series A round, led by Energy Impact Partners and Galvanize Climate Solutions, with support from other investors. The funding will support marketing efforts and expansion of installer capacity as the company prepares for the launch of its heat pumps in select regions.