Spain-based heat pump technology platform Nido announced today that it has raised €5 million in a Seed funding round, with proceeds aimed at advancing its platform to streamline heat pump installation and transition to clean heating and cooling in the residential sector.

Heat pumps are rapidly emerging as an energy efficient and climate-friendly alternative to furnaces and air conditioners, producing fewer greenhouse gas emissions and reducing reliance on fossil fuels.

Founded in 2023 with the goal of accelerating the energy transition by installing heat pumps in the residential sector, Madrid-based Nido provides software that streamlines the quoting, design, and installation of heat pumps, accelerating budgeting, design, and engineering project installations. The company’s services include the development of a 3D BIM (Building Information Modelling) model for each installation, allowing construction and HVAC professionals to offer solutions and quotes, enabling rapid quoting and design. Nido also joins as a consultant and project manager once the sale is closed, providing an installation kit including the BIM model, a complete list of all necessary materials, and specific instructions for each job.

Nido said that the new capital will be used to integrate AI into its platform, expand its engineering team, and optimize its marketplace connecting installers, suppliers and customers.

Nido CEO and co-Founder German Peralta said::

“This investment is a major step toward our goal of democratising access to heat pumps in Europe.”

Investors in the Seed funding round included Iberdrola, through its start-up programme, Perseo, Ship2B Ventures, Decelera Ventures, Zubi Capital, and Silence VC, alongside more than 15 angel investors.

In a post announcing its investment, Iberdrola said:

“Iberdrola’s plan is to increase the installation of solutions that help to decarbonise demand, and aerothermal energy plays a key role in enabling highly efficient electrification of heat generation.”