Arch, a startup that provides heat pump installation and maintenance services, has secured $6.2 million in seed funding to accelerate its growth and expand its reach. The funding round was led by XYZ Ventures, with participation from ABC Capital and other angel investors.
Heat pumps are devices that transfer heat from one place to another, using electricity and refrigerant. They can provide both heating and cooling for homes and buildings, depending on the season. Heat pumps are more energy-efficient and environmentally friendly than traditional HVAC systems that rely on fossil fuels, such as gas boilers and furnaces.
According to the U.S. Department of Energy, heat pumps can reduce electricity use by about 65% compared to electric resistance heating, and by about 50% compared to gas heating. Heat pumps can also reduce carbon emissions by up to 60% compared to gas heating, and by up to 90% compared to electric heating.
However, heat pumps are not widely adopted in the U.S., mainly due to the high upfront costs, lack of awareness, and compatibility issues with existing heating systems and plumbing. Arch aims to solve these challenges by offering affordable and flexible financing options, comprehensive installation and maintenance services, and smart thermostats that optimize heat pump performance and comfort.
Arch’s co-founder and CEO, John Smith, said: “We are thrilled to have the support of our investors, who share our vision of making heat pumps accessible and affordable for every household. We believe that heat pumps are the future of home heating and cooling, as they can save money, reduce emissions, and improve comfort. Our mission is to make heat pump installation and maintenance as easy and hassle-free as possible, by providing end-to-end solutions and exceptional customer service.”
Arch’s co-founder and CTO, Jane Doe, said: “We are also excited to leverage our expertise in heat pump technology and software engineering, to develop innovative products and features that enhance the user experience and satisfaction. For example, we are working on a smart thermostat that can automatically adjust the heat pump settings based on the weather, occupancy, and user preferences, using machine learning and cloud computing. We are also developing a mobile app that allows users to monitor and control their heat pumps remotely, and receive alerts and tips on how to optimize their energy efficiency and savings.”
Arch plans to use the new funding to hire more staff, expand its service area, and launch new products and features. The company currently operates in California, Oregon, and Washington, and has installed over 1,000 heat pumps in residential and commercial properties. Arch’s customers include homeowners, landlords, property managers, and businesses, who have reported significant reductions in their energy bills and carbon footprints, as well as improvements in their indoor air quality and comfort.
