Nido
Nido is a startup dedicated to addressing a pressing environmental issue. Currently, 95% of homes rely on fossil fuels, generating over 40% of greenhouse emissions in the residential sector. And in the EU alone, there are 65 million gas boilers that have exceeded their useful lives.
There’s a much better product already available: heat pumps - a superior environmental solution that consumes 75% less energy than traditional boilers and operates on electricity rather than gas, offering both environmental benefits and cost savings. The European Commission has made rolling out heat pumps central to their 2030 climate targets, with countries implementing incentive schemes for heat pumps and prohibition measures for traditional boilers.
Despite this immense opportunity, only about 1 million heat pumps are being installed in Europe annually, significantly hindering our path to electrify Europe. And the opportunity is to install over 65m heat pumps which would equate to almost 1 Trillion Euro. This is where Nido comes in.
We've developed a software solution that addresses three critical challenges:
1. Mass scale adoption: We need to get new entrants offering heat pumps to their end consumers so we expand the pie. Given the technical complexity for this, Nido offer a plug-and-play solution for new entrants to start selling heat pumps to their customers with little training required. Our clients include energy, renewables, and construction companies.
2.Installation capacity: We need to expand capacity of the current installers as this is a bottleneck. For this Nido created an automated engineering solution for installers to easily quote, design, and procure materials required for their jobs, making them three times more efficient.
3.Technology trust: Of the heat pumps currently being installed, there is little oversight to whether the work is done correctly and using the budgeted materials/equipment leading to poor quality. We created an automated quality assurance system that uses image processing to evaluate the quality of the work and provide feedback to the craftsmen.
Articles about Nido:
- December 5, 2024 Weekly funding round-up! All of the European startup funding rounds we tracked this week (Dec 2 – Dec 5)
- October 29, 2024 VDS brings together investors with over €250 billion in private equity for startups (Sponsored)
- June 11, 2021 Weekly VC Overview: All 100+ European startup funding rounds we tracked this week (June 7-11)
- June 7, 2021 66 Top Agriculture Startups and Companies in Italy (2021)
- June 1, 2021 Finnish e-mobility software startup eMabler raises €630K for its electric vehicle charging solution
- January 28, 2021 Helsinki-based CHAOS raises €1.5 million to help real estate investors sustainably invest in cities
- August 27, 2020 Oulu-based medtech Monidor secures €1 million for its safe patient monitoring solutions
- March 2, 2020 10 promising Sweden-based startups to watch in 2020 and beyond