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High Tech Series A Founded 2018

Quilt

Quilt designs and manufactures AI-based smart ductless heat pump systems for residential heating, ventilation, and air conditioning, delivering the most intuitive, advanced, and efficient home climate solution on the market. The Quilt system comprises indoor units that are only 7 7/8 inches tall for seamless integration into any space, an outdoor unit that serves as the heat pump anchor, the Quilt Dial thermostat…

📍 Singapore · Security & Surveillance Technology,

Funding snapshot

Last roundSeries A
Amount$9M
Date21 November 2019
Total raised$9M
Team size70

About

Quilt designs and manufactures AI-based smart ductless heat pump systems for residential heating, ventilation, and air conditioning, delivering the most intuitive, advanced, and efficient home climate solution on the market. The Quilt system comprises indoor units that are only 7 7/8 inches tall for seamless integration into any space, an outdoor unit that serves as the heat pump anchor, the Quilt Dial thermostat that can be wall-mounted or tabletop for room-by-room and whole-home control, and the Quilt App for intuitive remote control, seamless scheduling, and energy usage insights down to the hour and room. Quilt achieves a SEER2 rating of 25+, making it the most efficient 2- and 3-zone system on the market, with intelligent occupancy sensing that automatically saves energy when rooms are empty through Auto-Away technology and continuous improvements via over-the-air updates. The system enables personalized comfort with ductless room-by-room temperature control, allowing each room to be set to its perfect temperature. Quilt is installed through a network of Quilt Certified Partners across North America, with most homes upgraded in days. The company offers industry-leading warranties including 12-year warranty for Select and Expert partners and 10-year for Certified partners. Endorsed by Wirecutter at The New York Times as an energy-saving mini-split, Quilt serves homeowners seeking all-electric, high-efficiency HVAC with precise temperature management. Founded in 2022 and headquartered in Redwood City, California, Quilt has raised approximately $62 million in Series B funding from investors including Lowercarbon Capital, Gradient Ventures (Google AI fund), Energy Impact Partners, Galvanize Climate Solutions, Garage Capital, Incite Ventures, MCJ Collective, and Alumni Ventures. The company employs approximately 67 people.

Business model

MarketingTech > Marketing Research > Consumer Insights > Sensory Analysis,

Big Data Analytics > Enterprise Solutions > Sales & Marketing > Marketing > Sentiment Analytics,

Security & Surveillance Technology > Surveillance > Video Surveillance > Analytics,

Image Recognition > Applications > Diversified

Team background

Company Wise > Google,

College Wise > The University of British Columbia

Institutional investors

Lowercarbon Capital Gradient Ventures Garage Capital Incite Ventures Energy Impact Partners Galvanize Climate Solutions MCJ MCJ Collective Climate Capital Spacecadet Alumni Ventures Lowercarbon Incite Drew Scott

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