Tunisian smart energy startup Wattnow raises US$1.3m pre-Series A funding.

Tunisian smart energy IoT startup Wattnow has raised US$1.3 million in pre-Series A funding to help it expand in Africa and the Middle East.

Founded in 2018 by Issam Smaali, Wattnow helps businesses take control of their energy consumption through the combination of its plug-and-play hardware and software solutions. The startup’s service allows businesses to view their energy consumption 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 by machine learning engines, and this information is accessible on a cloud-based dashboard, allowing businesses to access detailed reports and analysis on their energy consumption.

Having maintained exponential sales growth despite the pandemic, and having secured customers such as retailers, telecoms and banks, Wattnow now plans to expand its customer portfolio to other countries in Africa and the Middle East.

This expansion will be funded by a US$1.3 million pre-series A round led by Katapult Climate, a Norwegian climate impact fund, and local venture capital firm 216 Capital. Launch Africa Ventures, Cross-Boundary and the Oman Technology Fund are also present, the latter having already invested in Wattnow alongside Flat6Labs and Kepple Africa Ventures.

As part of Plug and Play Morocco and Plug and Play Middle East’s T5 SDAIA smart city accelerator, Wattnow has already begun evaluating the Moroccan and Saudi markets and establishing partnerships for deployment.

TunisianMonitorOnline

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