Tunisian startup Wattnow, known for its innovative IoT-based smart energy management solutions, has announced the successful closure of a multi-million dollar funding round aimed at accelerating its growth and expanding its global footprint.
Revolutionizing Energy Management Since 2018
Founded in 2018 by Issam Smaali, Wattnow has rapidly positioned itself as a leader in the energy management sector by helping companies take control of their energy consumption. The startup offers a comprehensive solution that combines both hardware and software, enabling businesses to monitor, control, and optimize their energy usage in real time.
Wattnow’s plug-and-play hardware is paired with smart sensors that capture detailed energy data, which is then analyzed using advanced machine learning algorithms. The resulting insights are accessible via a cloud-based dashboard, providing companies with actionable reports and analytics. This allows businesses to not only visualize their energy consumption but also automate certain energy loads and receive instant alerts if any issues arise, ensuring efficiency and preventing costly disruptions.
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Securing Strategic Investment for Expansion
After raising a $1.3 million pre-Series A round in 2022, Wattnow has now closed a significant, though undisclosed, multi-million dollar Series A funding round. This latest investment was led by Lateral Frontiers and 216 Capital, with participation from Outlierz Ventures, Satgana, Octerra Capital, and a group of strategic angel investors, including prominent figures such as Karim Beguir, the founder of InstaDeep, and Guillaume Amblard.
This fresh infusion of capital will be instrumental in Wattnow’s plans to scale its operations and refine its technological offerings. “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.”
Delivering Value Across Multiple Continents
Wattnow’s platform has already gained traction among strategic private and public sector clients across a diverse range of industries. These include municipalities, automotive and aeronautics, telecommunications, banking and insurance, transformative industries, oil and gas, construction, and retail. Despite having a relatively limited international commercial presence to date, Wattnow has successfully delivered substantial value to clients in more than 11 countries, spanning Europe, the Middle East, Africa, and North America.
Wattnow’s ability to deliver significant energy savings and efficiencies has earned it a strong reputation in key markets. Notably, many of its initial clients, who started in Tunisia, have since expanded their use of Wattnow’s solutions across multiple continents. This demonstrates not only the scalability of the platform but also its global appeal and effectiveness.
A Vision for a Sustainable Future
Looking ahead, Wattnow aims to leverage this new funding to enhance its technological capabilities and expand its global reach. The company is committed to helping businesses around the world transition to more sustainable energy practices, making significant contributions to reducing their carbon footprints.
Smaali emphasized the importance of this funding round in driving the company’s mission forward: “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.”
With a clear vision and strong financial backing, Wattnow is poised to become a major player in the global energy management industry, leading the way toward a more energy-efficient and sustainable future.
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