Labrador Energy Receives Funding

Daily Mail and General Trust (DMGT) invests £500,000 in energy company Labrador.

21:48 09 March 2018

Labrador, an energy company that has developed a smart device that automatically switches the customers’ suppliers based on their individual energy usage, has received £500,000 investment from Daily Mail and General Trust (DMGT). The company confirms that it will use the money to fund its market launch.

 

Speaking about the smart device they call the Retriever, Labrador CEO Jane Lucy said: “Essentially, it is a gateway that pairs with smart meters—the household has a ZigBee home area network set up at installation which we use to pair to the meters and then we use the home broadband to send the data to our cloud.

 

“The technology is unique in that it’s the only way to get granular data from smart meters in real-time.”

 

Meanwhile, Manuel Lopo de Carvalho, head of DMGT’s ventures division, said: “We are delighted to be supporting Labrador in its innovative disruption of the UK energy market.

 

“We believe the company’s focus on driving down costs for hard-working British households will be appreciated by our huge consumer audience in the UK and now those readers will be amongst the first to benefit from Labrador’s offering”