Ventive, Ltd, a London, UK-based developer of products to reduce heating bills for residents and to improve internal air quality, raised more than £900k in equity funding.
Backers included venture capital fund manager Mercia Fund Management (MFM) and the Angel Co-fund.
The company intends to use the funds to accelerate the commercial roll out of its first patented ventilation products and continue to develop its R&D programme for further market expansion.
Founded by Tom Lipinski, Ventive has developed innovative Passive Ventilation systems with Heat Recovery for the built environment that mimics nature in both its appearance and operation.
The system uses a combination of air buoyancy and wind (active from very low wind speeds) to create a flow of air within the interior of the building, ensuring higher than minimum standards of air quality are achieved and maintained.