Wattnow, a Climate tech startup specializing in energy management systems, announced today the successful closing of a multi-million dollar funding round.
The round was led by Lateral Frontiers and 216 Capital, with notable participation from Outlierz Ventures, Satgana, Octerra Capital, and a group of strategic angel investors, including InstaDeep founder Karim Beguir and Guillaume Amblard, and a leading Africa-based climate tech fund expected to join shortly.
Founded in 2018 by Issam Smaali, Wattnow addresses the critical need for efficient energy management amidst rising energy prices and the global drive to reduce carbon emissions.
The company’s innovative solution provides businesses across various industries with the tools to optimize energy consumption, reduce costs, and minimize their carbon footprint. By leveraging AI and real-time data analytics, Wattnow’s platform enables companies to visualize and analyze their energy use in real-time, offering actionable insights that drive efficiency and sustainability.
The energy management sector is poised for significant growth, driven by a projected 3.3% rebound in global electricity demand and a forecasted tripling of the Energy Management System (EMS) market to $117.8 billion by 2025.
The climate startup is strategically positioned to capitalize on this expansion, particularly in its primary markets of Europe, the Middle East and Africa (MEA), where the market size was valued at $11.77 billion and $1.68 billion, respectively.
Investor Contributions
Lateral Frontiers, known for supporting high-growth companies in Africa, will provide valuable strategic insights to guide Wattnow’s expansion. 216 Capital, a dedicated supporter of technology-driven companies, has invested in Wattnow’s mission to transform the energy sector with innovative solutions. Outlierz Ventures, specializing in early-stage startups in Africa, offers crucial support and expertise to help Wattnow scale efficiently in emerging markets.
Satgana, with a strong commitment to social and environmental impact, aligns with Wattnow’s vision for a sustainable energy future. Octerra Capital, experts in funding innovative and scalable technologies, will enhance Wattnow’s capabilities in delivering state-of-the-art energy management solutions. These investors bring a wealth of experience, resources, and strategic guidance to Wattnow, further solidifying its position as a leader in the sustainable energy sector.
Wattnow’s proprietary IoT solution integrates hardware and software to offer functionalities such as alerts for faults and anomalies, detailed reports and analytics on energy usage, and predictive recommendations for maintenance and cost optimization.
These features empower businesses to achieve significant savings in costs, carbon emissions, and productivity, helping them reach their sustainability goals faster and more effectively.
Broad Industry Impact and Global Reach
Wattnow’s innovative platform is already adding value to strategic private and public sector clients across a various industries, including municipalities, automotive and aeronautics, telecommunications, banking and insurance, transformative industries, oil and gas, construction, and retail.
With minimal international commercial presence thus far, the climate startup has successfully covered and delivered substantial value to clients across more than 11 countries, including key markets in Europe, the Middle East, Africa, and North America.
Clients have reported significant savings and improvements in operational efficiency, and Wattnow’s solution has been seamlessly deployed across various regions without requiring a local Wattnow presence. This is a testament to the platform’s competitiveness, value-added offerings, and ease of deployment.
“This funding represents a significant step forward in our journey,” said Issam Smaali, CEO of Wattnow. “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’s ability to seamlessly integrate its IoT devices and software into existing operations allows them to stand out as the partner of choice for large enterprises and SMEs across both emerging and developed markets.
Their strong value proposition, competitive product, and commitment to quality have enabled Wattnow to attract significant funding to support their international growth.
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