Wattnow, a Tunisian startup that provides IoT-based smart energy management solutions, has announced the completion of a multi-million dollar funding round to help accelerate its already spectacular development.
Following a US$1.3 million pre-Series A investment round in 2022, Wattnow has now raised an undisclosed sum of Series A finance, led by 216 Capital and Lateral Frontiers, worth “multi-million dollars.” Along with Karim Beguir, the creator of InstaDeep, and Guillaume Amblard, a group of strategic angel investors, Outlierz Ventures, Satgana, and Octerra Capital are also part of the funding round.
Wattnow was founded in 2018 by Issam Smaali and offers plug-and-play hardware and software solutions to assist businesses manage their energy consumption. With the help of the startup’s service, businesses can monitor and manage specific loads, see how much energy they use in real time, and get warnings and alerts when something goes wrong.
Smart sensor data is processed by machine learning engines, and the results are presented on a cloud-based dashboard that provides businesses with comprehensive reports and energy-usage analytics.
A wide range of industries, including municipalities, automotive and aerospace, telecommunications, banking and insurance, transformative industries, oil and gas, construction, and retail, are already benefiting from Wattnow’s cutting-edge platform.
Smaali stated, “This funding represents a significant step forward in our journey with the support of our investors, we are well-positioned to expand our global presence, refine our technological offerings, and continue helping our clients move towards a more sustainable future. The fact that our key clients, initially onboarded in Tunisia, are now deployed on multiple continents demonstrates the global appeal and effectiveness of our solution.”
Wattnow has effectively covered and provided significant value to clients across more than 11 countries, including important markets in Europe, the Middle East, and Africa in addition to North America, while having a modest foreign commercial presence thus far.
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