Tunisian startup Wattnow, an IoT-based smart energy management solution, has secured a multi-million dollar funding round. The funding will support the company’s rapid growth and help expand its international presence.
Wattnow was founded in 2018 by Issam Smaali. It helps companies manage their energy use with its smart hardware and software solutions.
The company’s service provides real-time insights into energy consumption, allowing businesses to visualize usage, control loads, and automate tasks. Alerts and notifications keep users informed when issues arise.
Wattnow’s platform uses smart sensors to collect data, which is analyzed through machine learning. The insights are available on a cloud-based dashboard, giving companies access to detailed reports and analytics. These features empower businesses to make informed decisions about their energy use.
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Funding to Expand and Refine Technology
Wattnow had previously raised $1.3 million in a pre-Series A round in 2022. This latest funding round, assumed to be Series A, was led by Lateral Frontiers and 216 Capital.
Other participants include Outlierz Ventures, Satgana, Octerra Capital, and strategic angel investors like InstaDeep founder Karim Beguir and Guillaume Amblard.
Wattnow’s innovative platform is already in use by clients in various sectors, including municipalities, automotive, telecommunications, and banking.
The startup has delivered value to customers in over 11 countries, including key markets in Europe, the Middle East, Africa, and North America.
“This funding represents a significant step forward in our journey,” said Smaali. “With the support of our investors, we can expand globally and refine our technology. Our initial clients in Tunisia are now deployed on multiple continents, proving the global appeal of our solution.”
Wattnow’s growing presence across industries shows its potential to drive sustainable energy management worldwide.
The new funding will help the startup reach new markets, improve its offerings, and support businesses in making greener energy choices.