# Qvantum raises €42M Series B for heat pump expansion

Qvantum, a Swedish heat pump technology company, has closed a 460 MSEK (€42 million) Series B capital raise to accelerate growth and launch of next-generation electric heat pumps in urban Europe.

- Type: Investment
- Announced: 2023-01-04
- Where: Åstorp, Sweden, Sweden
- Value: $45.0M (42.0M EUR)
- Status: announced
- Capacity: 50,000 heat pumps per year
- Products: electric heat pumps for individual buildings and urban areas
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Qvantum](https://endata.com/companies/16006.md)

## Sources

- [qvantum.com](https://www.qvantum.com/uk/qvantum-raises-e-42m-to-accelerate-launch-of-next-generation-electric-heat-pumps-to-decarbonize-urban-europe/), 2023-01-04: "The new capital will support Qvantum’s growth and expansion strategy and accelerate go-to-market of its next generation electric heat-pumps and innovative technology into densely populated urban areas and cities across Europe."
- [naturalrefrigerants.com](https://naturalrefrigerants.com/news/swedish-manufacturer-qvantum-raises-e42-million-for-accelerated-r290-residential-heat-pump-deployment/), 2023-01-30: "Qvantum [will] be a driving force in the decarbonization and electrification of cities across Europe by providing emission-free, reliable and affordable electric heat pumps to the mass-market."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.