Tunisian energy management startup Wattnow raised multi-million-dollar funding

The multi-million-dollar funding round that Tunisian startup Wattnow, which offers an Internet of Things-based smart energy management solution, has closed, contributing to its already remarkable growth.

Wattnow was founded in 2018 by Issam Smaali and offers plug-and-play hardware and software solutions to help 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 notifications and alerts when something goes wrong.

Machine learning engines analyze smart sensor data, and the results are presented on a cloud-based dashboard that provides businesses with comprehensive reports and energy-usage analytics.

Following its 2022 US$1.3 million pre-Series A funding round, Wattnow has now raised an undisclosed amount of money, dubbed “multi-million dollar” funding, which we presume to be a Series A led by Lateral Frontiers and 216 Capital. InstaDeep founder Karim Beguir and Guillaume Amblard are among the group of strategic angel investors who are part of the round, along with Outlierz Ventures, Satgana, and Octerra Capital.

In a wide range of industries, including municipalities, automotive and aerospace, telecommunications, banking and insurance, transformative industries, oil and gas, construction, and retail, Wattnow’s cutting-edge platform is already delivering value to important private and public sector clients.

Wattnow has successfully 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, despite having a minimal international commercial presence thus far.

“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, is now deployed on multiple continents demonstrates the global appeal and effectiveness of our solution.”