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Luthmore

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Battery-enabled electric combi boiler for home heating

United KingdomFounded 2022Energy
Valuation $25–50M Last recorded · 2026
Headcount <100 Current team size
Total funding $0–10M Disclosed equity funding
Unlock exact values This page shows ranges. Dealroom has the exact numbers for Luthmore and the history behind them.

About Luthmore

Luthmore is a Wiltshire-based clean technology company developing a zero-emission alternative to the gas combination boiler. Founded in 2022 by former Dyson engineers Craig Wilkinson and Martin Gutkowski, the firm aims to decarbonize home heating with a practical solution for small to medium-sized homes. The founders' engineering background includes work on projects such as Dyson's abandoned electric car program. In January 2026, the company appointed Hervé Dehareng, a former senior innovation director at Dyson, as its chief executive to lead the next growth phase.

The company has developed the Luthmore Boiler, an all-electric, battery-powered system designed as a direct, 'drop-in' replacement for gas combi boilers. It fits in the same space and uses existing radiators and pipework, eliminating the need for disruptive installation works often associated with heat pumps. The unit features an integrated lithium iron phosphate (LFP) battery system which stores electricity from the grid during off-peak hours or from solar panels. This stored energy is then released to deliver high-power hot water (up to 30kW) and central heating (10kW), matching the performance of a traditional gas boiler without requiring a separate hot water tank.

Luthmore's business model targets homeowners, developers, councils, and social housing providers, positioning its product as a lower-disruption and more affordable upfront alternative to heat pumps. While the retail price is expected to be around £4,500, less than a typical heat pump installation, running costs are currently higher than gas boilers due to the price disparity between electricity and gas in the UK. The company has raised £12.4 million in total funding from backers that include housing developers, residential management companies, plumbing groups, and a £1 million investment from the British Business Bank via the South West Investment Fund.

Source: Dealroom company data

At a glance

Status
Operational
Founded
2022
Headquarters
United Kingdom
Employees
23
Open positions
1
Dealroom signal
85.7/100
Industry
Energy
Sector
Energy, Sustainable Development Goals, Climate Tech, Stationary Energy Storage, Green Buildings
Business model
Manufacturing
Client focus
b2b

Funding history

3 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
DEBT✓Debt Jan 2026 $1.3M — British Business Bank ↗
SEED✓Equity / VC Jan 2026 $7.3M $29M Undisclosed ↗
Showing the latest 2 of 3 recorded eventsBook a demo for the full funding history →

Growth signals

Luthmore website traffic

Latest recorded traffic for Luthmore is 13K monthly website visits, down 51.9% over the last three months.

Latest monthly visits13K 3-month web change-51.9%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Open positions

Openings linked to this company in Dealroom
1 distinct opening shownExplore hiring signals →

Investments and acquisitions

Capital deployed

Recent portfolio relationships for companies that also act as investors or acquirers.

Investors

1 investor on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series B and later1 investor entered at this stage

  • British Business Bank
Team profiled 4 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 3 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
2 countries with
team presence
🇬🇧 United Kingdom95.8%
🇺🇸 United States4.2%
2 countries shown

Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about Luthmore on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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