BOXT has raised £20m from Brookfield Infrastructure to “turn up the heat on overhauling the UK domestic heating market”.
Brookfield has also invested in residential infrastructure specialists Thermondo in Germany and Enercare in Canada and the US.
BOXT will use the cash injection to spur UK growth, whilst also supporting the government’s pledge to cut UK emissions by 80% by 2050, it said.
The fundraising follows an initial investment from engineering giant Bosch.
Founders Mel Butler, Andy Kerr and Keith Jones launched BOXT in 2017, developing a unique digital platform.
In less than four years the Leeds headquartered technology company, which offers consumers an uber-style service for fitting boilers, electric vehicle chargers and air conditioning, has become Britain’s second largest boiler installer, providing services to over 100,000 households nationwide.
Growing to over 70 employees since its inception in 2017, BOXT aims to double its workforce in the next 18 months, a statement said. The digital heating disruptor has amassed a network of over 3,000 engineers, with a view to increasing this to 6,000 by 2023 to meet customer demand.
BOXT founder and CEO, Andy Kerr, said: “The company has continually delivered double digit growth since 2017. Bucking the trend of the traditional UK heating industry, we’ve achieved over 50% underlying sales growth despite the challenging economic circumstances throughout the COVID 19 pandemic.
“We’ve invested significantly in technology that creates a smooth customer journey, reducing waste and additional journeys for both customers and engineers.
“Nurturing partnerships with Bosch, Google, EDF and Halfords have also strengthened our proposition and momentum in the UK, whilst ensuring the business is at the forefront of innovation.
“Our vision is to be part of the solution to the carbon questions being asked of our industry, supporting our customers – especially the most vulnerable as the UK transitions its heating and energy supply to a more climate friendly future.
“Two thirds of the homes we will live in by 2050 have already been built, so we need to ensure that any new heating and power solutions can fit into existing homes in a more energy efficient and cost-effective way.”