IoT-based smart energy management startup Wattnow has announced the closing of a multi-million dollar funding round to help drive its already impressive growth, Disrupt Africa reported.
Founded in 2018 by Issam Smaali, Wattnow helps businesses take control of their energy consumption through the combination of its plug-and-play hardware and software solutions. The startup’s service allows businesses to visualize their energy consumption in real time, control and automate certain loads, and receive alerts and notifications when something goes wrong.
The data, captured by smart sensors, is analysed by machine learning engines, and this information is accessible on a cloud-based dashboard, giving businesses access to detailed reports and analysis on their energy consumption, the same source said.
Wattnow, which raised $1.3m ahead of a Series A in 2022, has just secured an undisclosed but ‘multi-million dollar’ round of funding, which we assume will be a Series A, led by Lateral Frontiers and 216 Capital. Outlierz Ventures, Satgana, Octerra Capital and a group of strategic angel investors, including InstaDeep founders Karim Beguir and Guillaume Amblard, are also participating in the round.
Wattnow’s innovative platform is already delivering value to strategic private and public sector clients across a range of industries, including municipalities, automotive and aerospace, telecommunications, banking and insurance, process industries, oil and gas, construction and retail.
With minimal international sales presence to date, Wattnow has successfully covered and delivered substantial value to customers in more than 11 countries, including key markets in Europe, the Middle East and Africa, as well as North America.
‘This funding represents an important milestone in our journey,’ said Smaali. ‘With the support of our investors, we are well placed to expand our global footprint, refine our technology offerings and continue to help our customers move towards a more sustainable future. The fact that our key customers, initially embedded in Tunisia, are now deployed across several continents demonstrates the global appeal and effectiveness of our solution.’
TunisianMonitorOnline (NejiMed)
