Tunisian startup Wattnow, known for its IoT-based smart energy management solutions, has successfully closed a multi-million dollar funding round. This latest round of investment is set to propel the company's growth, strengthen its presence in key markets, and further enhance its product offerings aimed at promoting energy sustainability.

Leading Investors Back Wattnow’s Vision

The funding round was led by prominent venture capital firms Lateral Frontiers and 216 Capital Ventures. Other key participants in the round included Satgana, Outlierz Ventures, and Octerra Capital. In addition, a group of strategic angel investors joined the effort, including InstaDeep founder Karim Beguir and Guillaume Amblard. The round also saw the participation of an Africa-based climate tech fund, expected to officially join soon.

Founder’s Perspective on the Milestone

Wattnow's founder, Issam Smaali, expressed his gratitude towards the investors and highlighted the importance of this funding round for the company's mission. According to Smaali, the new capital will allow Wattnow to continue improving its energy management solutions, which help businesses monitor and control their energy consumption more effectively. He emphasized that the company is now well-positioned to expand its international presence, build on its current technological capabilities, and support its clients in reaching their sustainability and impact goals.

Wattnow’s Innovative Energy Management Solutions

Founded in 2018, Wattnow offers a comprehensive smart energy management platform that combines IoT technology with machine learning. The company’s plug-and-play hardware, along with its software solutions, enables businesses to visualize real-time energy usage, automate load management, and receive alerts when energy issues arise. The data collected from smart sensors is analyzed by machine learning engines, providing detailed insights and reports on energy usage. These insights are accessible through a cloud-based dashboard, empowering businesses to make data-driven decisions about their energy consumption.

Diverse Clientele Across Industries and Continents

Wattnow’s platform has been widely adopted by clients across various industries, including municipalities, telecommunications, automotive, and oil and gas. The startup's service is especially valuable to industries requiring precise energy management to optimize costs and efficiency. The company has expanded beyond its home base in Tunisia, serving clients across 11 countries in Europe, the Middle East, Africa, and North America, showcasing its global potential.

A Major Step Forward

The latest round of funding follows Wattnow’s earlier success, including a $1.3 million pre-Series A round raised in 2022. With the newly secured investment, Wattnow is on track to accelerate its growth and increase its international footprint. The company is focused on refining its technology to meet the needs of both private and public sector clients and further establishing its leadership in the smart energy management space.

Wattnow’s recent funding marks a critical milestone for the startup, allowing it to enhance its energy management solutions and expand its presence in international markets. With the backing of prominent investors and strategic partners, the company is set to make significant strides in helping businesses achieve their sustainability goals while optimizing their energy consumption. As Wattnow continues to grow, it will remain a key player in the global energy management landscape, delivering value to clients across multiple industries and continents.