Wattnow closes funding round
BY TOM JACKSON ON SEPTEMBER 4, 2024
Tunisian startup Wattnow, an IoT-based smart energy management solution, has announced the closing of a multi-million dollar funding round to help drive its already impressive growth.
Founded in 2018 by Issam Smaali, Wattnow helps companies take control of their energy usage through the combination of its plug-and-play hardware and software solutions. The startup’s service enables companies to visualise their energy usage 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 through machine learning engines, with these insights accessible on a cloud-based dashboard, empowering companies by giving them access to detailed reports and analytics on their energy usage.
Wattnow, which raised a US$1.3 million pre-Series A funding round in 2022, has now secured an undisclosed, yet “multi-million dollar”, amount of funding – which we assume to be a Series A, led by Lateral Frontiers and 216 Capital. The round also features Outlierz Ventures, Satgana, Octerra Capital, and a group of strategic angel investors, including InstaDeep founder Karim Beguir and Guillaume Amblard.
Wattnow’s innovative platform is already adding value to strategic private and public sector clients across a diverse range of 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, Wattnow has successfully covered and delivered substantial value to clients across more than 11 countries, including key markets in Europe, the Middle East, and Africa, as well as North America.
“This funding represents a significant step forward in our journey,” said Smaali. “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.”
