Total amount raised
$42 Millions
Latest funding date
04/01/2024
Location
Quilt has successfully raised multiple rounds of funding, with its latest being a Series A round that closed on April 16, 2024. The company is backed by 13 investors, including Gradient Ventures and Drew Scott.
Quilt offers an advanced home climate solution featuring a heat pump system with room-by-room control and energy efficiency. Keep reading to explore the intricacies of Quilt's fundraising journey and the investors backing this innovative platform.
What Is Quilt?
Quilt, founded on June 9, 2022, is a smart home climate solution company based in Redwood City, California. The company was established by Bill Kee, Matthew Knoll, and Paul Roland Lambert.
Quilt specializes in developing advanced home temperature control technology aimed at energy efficiency. Their system includes indoor units, a thermostat (Quilt Dial), a mobile app, and an outdoor unit, offering room-by-room control and occupancy detection.
With a team of 11-50 employees, Quilt has been recognized as one of Fast Company’s Most Innovative Companies of 2025, highlighting its commitment to providing intuitive and efficient home climate solutions.
How Much Funding Has Quilt Raised?
- Series A
- Amount Raised: $33M
- Date: April 2024
- Lead Investors: Energy Impact Partners, Galvanize Climate Solutions
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch and expand Quilt’s operations nationwide, starting in the Bay Area and then moving to Los Angeles and other U.S. markets.
- Seed Round
- Amount Raised: $9M
- Date: May 2023
- Lead Investors: Gradient, Lowercarbon Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and refine Quilt’s advanced home temperature control technology.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to kickstart Quilt’s operations and product development.
Total Amount Raised: $42M
Current Valuation: Not publicly disclosed
Key Investors
- Energy Impact Partners
- Details: Energy Impact Partners is a venture capital firm focused on investing in companies that drive innovation in energy and sustainability. They co-led Quilt's Series A funding round.
- Investment Focus Areas: Decarbonization, energy transition, sustainable technologies.
- Notable Investments: Arcadia, Stem, Opus One Solutions.
- Galvanize Climate Solutions
- Details: Galvanize Climate Solutions is an investment firm dedicated to addressing climate change through strategic investments in innovative companies. They co-led Quilt's Series A funding round.
- Investment Focus Areas: Climate solutions, sustainable technologies, electrification.
- Notable Investments: BlocPower, Carbon Clean.
- Gradient Ventures
- Details: Gradient Ventures is Google's AI-focused venture fund that invests in early-stage startups. They participated in Quilt's Series A funding round.
- Investment Focus Areas: AI, machine learning technologies.
- Notable Investments: Algorithmia, Labelbox.
- Lowercarbon Capital
- Details: Lowercarbon Capital is a venture capital firm that invests in companies working to reduce carbon emissions and combat climate change. They participated in Quilt's Series A funding round.
- Investment Focus Areas: Climate change mitigation, clean energy, sustainable technologies.
- Notable Investments: Charm Industrial, Planetary Technologies.
- MCJ Collective
- Details: MCJ Collective is a venture capital firm that invests in companies working on climate solutions. They participated in Quilt's Series A funding round.
- Investment Focus Areas: Climate tech, sustainability.
- Notable Investments: BlocPower, Carbon Clean.
What's Next for Quilt?
Quilt is poised to capitalize on a substantial opportunity as it launches its smart home climate solutions across the U.S. With thousands of homeowners already on the waitlist, the company is set to address the significant market need for sustainable and efficient home heating and cooling systems. The initial focus will be on the Bay Area and Los Angeles, with plans to expand nationwide.
Future fundraising efforts are likely as Quilt scales its operations to meet growing demand. The company may attract additional investors interested in sustainable technologies and smart home solutions. However, Quilt will face challenges such as competition from established players and ensuring seamless integration of its technology into diverse home environments.
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