The future of the electricity grid may not depend only on building more power plants. UK energy technology startup Boldr is betting that a significant part of the answer could already be sitting inside homes, from air conditioning systems and heat pumps to batteries and electric vehicle chargers. The company has raised $5 million to build the technology needed to connect these devices and turn household energy demand into a flexible resource for the grid.
$5 Million to Scale Energy Flexibility
Boldr has raised $5 million in a pre Series A funding round led by Unconventional Ventures.
The round included participation from Ada Ventures, Tetard Ventures, Davidovs Venture Collective, Roxbury Asset Management, Inclimo Climate Tech Fund, Prosegur, Techstars and S20 Fund, alongside strategic investors from the North American HVAC industry.
The latest financing follows Boldr’s $3.2 million oversubscribed seed round raised last year.
The new capital will support product development, expansion into additional HVAC systems and growth of the company’s contractor and distribution network across North America.
Turning Homes Into Grid Resources
Boldr is developing an energy management platform that connects equipment installed inside residential properties and allows those devices to respond to electricity demand.
The company is starting with heating, ventilation and air conditioning systems, which account for a significant share of residential electricity consumption, particularly in the United States.
Its technology connects HVAC equipment and allows energy consumption to be adjusted when required. During periods when electricity demand is high, connected systems could reduce or shift consumption, creating additional flexibility for the grid.
Over time, Boldr plans to connect other residential energy assets including batteries, solar installations and electric vehicle chargers.
The ambition is to create a distributed network in which millions of individual devices collectively provide useful capacity to the electricity system.
Contractors At the Centre
Rather than building a consumer focused energy app and asking homeowners to install it themselves, Boldr is taking a different route.
The company works with HVAC contractors that already install, maintain and replace heating and cooling equipment in homes.
These contractors effectively become the deployment and service network for Boldr’s technology.
CEO and co founder Madi Ablyazov said the company believes the transition to millions of connected homes cannot happen through a consumer app alone. Instead, it requires the contractors already responsible for the equipment controlling energy consumption inside homes.
Boldr provides contractors with connected controls and software designed to give them greater visibility into installed equipment.
Building a Smarter HVAC Network
Boldr’s smart thermostats and connected controls are designed to work across different heating and cooling systems.
Its software platform can provide contractors with information about installed equipment, helping them identify potential problems, manage maintenance and continue supporting customers throughout the lifetime of their systems.
This creates a dual purpose for the platform. Contractors receive tools to manage their equipment and customer relationships, while Boldr gains access to a growing network of connected residential energy assets.
The company has already established nationwide distribution partnerships with HVAC brands and supply companies including Bosch owned Source 1 and Daikin. These partnerships provide access to contractor networks across the US.
From HVAC to a Distributed Power Plant
Boldr plans to expand beyond ductless HVAC controls into residential and light commercial central HVAC systems.
The company will also continue building its contractor partnerships and distribution footprint across North America.
Its longer term vision goes beyond heating and cooling. By connecting HVAC equipment with batteries, EV chargers and solar systems, Boldr aims to create a coordinated network of residential energy assets capable of responding to changing grid conditions.
The company believes that millions of connected homes could eventually operate collectively as a flexible energy resource, helping utilities manage peaks in demand without relying entirely on new centralised generation and transmission infrastructure.
In that model, the next power plant could be less about a single giant facility and more about millions of homes quietly working together.