Energy start-up raises €3.3m from investors

Dubliner Simon Phelan co-founded London-based Hometree, which is aiming to shake up the home boiler market

Simon Phelan, chief executive of Hometree

Hometree,an energy start-up co-founded by Dubliner Simon Phelan, has raised £2.9m (€3.28m) from private investors as it seeks to expand in the smart home space.

TheLondon-based technology start-up received cash from Literacy Capital, chaired by Paul Pindar, the former Capita chief executive and chairman of Purplebricks, an online estate agent.

His £1.5 million investment is relevant as Hometree, which describes itself as a“next-generation energy company” is planning on shaking up the home boiler ...