Tewke, a climate tech start-up building the future of energy optimisation and home automation announced today that it has raised £2.6 million in funding. Tewke will use these funds to continue to develop its domestic energy control platform to automate energy saving in any home and deliver the next generation of home automation.
Tewke, founded by serial entrepreneur Piers Daniell in 2020, is the first step and backbone in their vision to create a future smart grid.
Around 30% of all electricity is consumed by the residential sector. By focusing on residential electricity consumption Tewke identified that frequently 60% of a home’s energy is wasted; that is energy that is producing greenhouse gasses but not delivering any benefit to consumers. Within the UK alone, consumers waste over £4 billion in energy costs annually, and globally this is estimated to exceed £750 billion, something Tewke is tackling head on.
Tewke, opened its equity seed round targeting a £1 million raise, but due to strong interest from investors both in the UK and internationally, was able to over-raise to help accelerate hardware and software development. This additional capital is being used to accelerate its go-to-market proposition and to grow its software team, focusing on developing its neuro-symbolic AI systems, enabling further energy optimisations. Tewke has also received UK Innovate funding from the UK Net Zero Pre-Commercialisation Support Fund and the Housing Digital Innovation Award.
To enable Tewke’s ambitious energy saving and home automation goals, Tewke has been developing its first product, Tap, an intelligent light switch, which was first shown off at a private preview event this October. It will be exhibited at CES 2025 in Las Vegas in January 2025. Tap is unique in the home automation industry, being the first touchscreen light switch to be launched that doesn’t require a neutral wire or smart lightbulbs to function, making it easily adoptable because it doesn’t require any home rewiring. It is designed to be installed into any existing home in the US, UK or Europe. By developing a smart light switch, Tewke is positioning itself in the “goldilocks zone” of the home, an area that has eluded other companies for years due to technical challenges around powering such a device without neutral wires. Light switches are uniquely placed to provide the best experience for any smart home device, often falling in high foot-fall areas, being at convenient heights to be operated by all members of the family and having a great view of a room to comprehensively understand the home environment.
Tewke has developed all its technologies inhouse, from the patent-pending electronics that enable it to be installed into any home, to its custom operating system, Tewke OS™. This enables Tewke to optimise energy savings and the user experience at every level. Tewke was awarded the prestigious internationally acclaimed Red Dot Award for Design Concept.
