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Quilt Secures $33 Million Series A Funding to Spearhead Home Climate Systems




Quilt, a California-based innovator in HVAC and refrigeration equipment manufacturing, has secured an impressive $33M in Series A funding, signaling a significant stride in transforming the heat pump market.


Led by Energy Impact Partners and Galvanize Climate Solutions, the funding round attracted notable investors like Garage Capital, Gradient Ventures, Incite Ventures, MCJ Collective, Lowercarbon Capital, and celebrity investor Drew Scott of "Property Brothers" fame. This capital injection will empower Quilt to ramp up its marketing initiatives, enhance installer capacity, and introduce cutting-edge heat pumps in targeted regions.


For Quilt, this Series A funding signifies a pivotal transition from a research and development-focused entity to a fully-fledged industry disruptor poised to reshape the heating and cooling landscape. With a steadfast commitment to innovation and customer-centric design, Quilt aims to drive widespread adoption of heat pump technology, thereby contributing to a more sustainable future.


Paul Lambert, co-founder and CEO of Quilt, acknowledges the challenges ahead and is determined to overcome them with the company's innovative heat pump solution. Lambert underscores the importance of delivering an exceptional upgrade experience, ensuring a seamless and attractive transition to heat pumps for consumers.


Quilt's forthcoming heat pump promises a sleek design and versatile installation options, addressing aesthetic concerns associated with traditional setups. With intuitive centralized controls, Quilt offers homeowners a user-friendly experience, allowing for easy settings adjustment for the entire house or individual rooms. Moreover, the company's proprietary technology incorporates occupancy sensors to optimize energy usage by accurately identifying room occupancy levels.


"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. "Quilt is redefining one of the most impactful systems within the home to unlock the full potential of electrification across our daily lives, our grid, and our planet. We're proud to support Quilt's world-class team as they deliver on their vision."


"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. "Quilt is proof of our belief that practical, impactful, and economically viable solutions can improve the quality of life for homeowners while also driving the electrification movement forward."


With Quilt's advanced heat pump technology, homeowners will get a sleek, modern system designed to blend seamlessly into any home environment. This system combines intuitive room-by-room control, occupancy awareness, and predictive technology for unmatched energy efficiency and comfort.


"As someone who has spent years transforming homes and understanding homeowners' needs, I've been eagerly waiting for a breakthrough like this," said investor, entrepreneur, and HGTV's Property Brother Drew Scott. "Quilt is going to make a massive impact on how we heat and cool our homes and put the control back in the hands of the homeowner, making sure the future of home climate control is not just innovative, but also undeniably cool."


ABOUT QUILT:

Quilt is at the forefront of revolutionizing home climate systems, driven by a mission to transition humanity away from fossil fuels. Founded by industry veterans from esteemed companies like Google, Apple, Tesla, and Nest, Quilt is supported by leading climate investors, positioning it as the premier choice for heating and cooling solutions.


Quilt's innovative systems seamlessly integrate into any home environment, offering intuitive room-by-room control, occupancy awareness for unparalleled energy efficiency, and predictive technology for optimal comfort. With Quilt, homeowners can embrace an all-electric, rebate-eligible, and sophisticated solution for their climate needs.

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