Switchee, a technology startup focused on improving living conditions in social housing, has secured an additional £5 million in funding. The company develops internet-connected thermostats that measure humidity, temperature, and pressure to prevent mould, lower heating costs, and improve the relationship between landlords and tenants. This funding round follows a £6.5 million investment led by AXA in May 2023, bringing the latest financial support from AXA IM Alts and Octopus Ventures. Founded in 2015, Switchee aims to install its technology in one million UK social housing units. Currently, over 130 social housing providers use their tools, and the startup has been doubling its revenues year-on-year. The investment will also help Switchee expand into areas like smart meter data integration and heat pump compatibility, further contributing to environmentally sustainable social housing.

Housing Technology, Clean Technology, Social Housing,United Kingdom

Switchee raises £5m to tackle mould in social housing