UK housing retrofit pioneer Domna raises funding to scale its innovative home energy efficiency solutions and tackle fuel poverty and climate change.
UK startup Domna, formerly Hestia, a leader in home energy efficiency and retrofit services, has secured a landmark £70M majority investment from private equity firm Leon Capital. This significant funding, one of the largest first-time raises for a female founder team in Europe, highlights Domna’s ambitious plans to scale its operations and tackle the UK’s extensive housing retrofit needs. The company’s innovative approach combines proprietary technology with on-the-ground services, making it a standout player in the burgeoning home energy efficiency market.
Energy inefficiency in homes is a pressing issue in the UK, with over half of the housing stock falling below acceptable energy performance standards. For landlords and housing associations grappling with cold, damp properties, Domna offers a one-stop-shop solution. Through a seamless combination of advanced software and expert services, Domna transforms homes, making them more energy efficient, healthier, and more valuable—a compelling proposition for landlords, tenants, and the environment alike.
Combining expertise and technology to retrofit the future of home energy efficiency
Founded in 2023 by ex-McKinsey Partner Anna Moore, former British Land executive Chenai Gondo, and ex-Exii CTO Khalim Conn-Kowlessar, Domna is revolutionising the retrofit landscape in the UK. The startup’s proprietary retrofit assessment software, coupled with its turnkey on-site services, enables housing portfolios to achieve up to 40% energy cost savings while boosting property valuations by over 20% post-retrofit.
Domna’s strategy aligns with a growing trend among European startups that adopt a private equity-style approach: acquiring smaller businesses and scaling them rapidly through innovative technologies. Leveraging the new funding, Domna has already acquired two major players in the retrofit sector: The Warmfront Team and Osmosis ACD.
The Warmfront Team, led by Alexander Hearn, specialises in home energy efficiency surveying services and works with over 60 social housing associations, representing nearly one million homes. Meanwhile, Osmosis ACD, co-founded by Matthew and Saskia Ratcliff and Kevin Nicholson, is renowned for its PAS 2035-compliant retrofit solutions, supporting initiatives like the Social Housing Decarbonisation Fund.
Together, the Domna group—with its 65+ retrofit professionals—delivers approximately 15,000 domestic retrofits annually, resulting in over 20 kilotons of CO2 emissions reductions and a significant impact on fuel poverty.
A shared vision of home energy efficiency for a greener, healthier UK
“In Leon Capital, Domna has found a forward-thinking partner that shares our commitment to raising the bar for UK housing and, in doing so, to realising the £500B+ opportunity in UK retrofit,” said Anna Moore, CEO and Co-Founder of Domna. “Whether you care about climate change or the standard of living, the need for action on retrofit is urgent, with homes driving 26% of total emissions in the UK and an estimated 6.5 million households living in fuel poverty.”
Alexander Hearn, Founder of The Warmfront Team, echoed this sentiment: “It was crucial for me to find the right partners who share our vision for a greener future. I have full confidence that the Domna Group will take Warmfront to the next level, continuing our mission to reduce carbon emissions in the UK and make a lasting positive impact on the environment.”
Christos Lavidas and Jean-Christophe Napoleon Bonaparte, Managing Partners, and Michael Youtsos, Partner, at Leon Capital, highlighted the broader mission: “We are thrilled to be partnering with Anna and the rest of the management team in building a truly tech-enabled service provider in UK residential retrofit, and in doing so, do our part in helping reduce fuel poverty and carbon emissions across the country.”
Energising the path ahead
Domna’s approach to home energy efficiency addresses the UK’s retrofit challenge by integrating advanced software with practical expertise. The company aims to enhance home energy efficiency and support sustainability efforts. With the backing of Leon Capital and recent acquisitions, Domna is positioned to play a significant role in the £500B UK retrofit market.
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