Wattnow Secures Multi-Million Dollar Funding Round Led by Lateral Frontiers, 216 Capital, and E3 Capital
03/09/2024
Amsterdam, September 3rd, 2024, Wattnow, the climate tech startup specializing in AI-powered energy management systems, has successfully closed a multi-million dollar funding round. The round was led by Lateral Frontiers and 216 Capital, with notable participation from E3 Capital, Outlierz Ventures, Satgana, Octerra Capital, and strategic angel investors including InstaDeep founder Karim Beguir and Guillaume Amblard.
Founded in 2018 by Issam Smaali, Wattnow helps businesses across industries optimize energy consumption, reduce costs, and cut carbon emissions. Its innovative IoT platform combines hardware and software to provide real-time energy analytics, predictive maintenance recommendations, and actionable insights, empowering companies to improve efficiency and sustainability simultaneously.
Strategic Growth in a Booming Market
The energy management sector is set for rapid growth. Global electricity demand is projected to rebound by 3.3%, while the Energy Management System (EMS) market is forecasted to triple, reaching $117.8 billion by 2025. Wattnow is uniquely positioned to leverage this growth, especially in Europe and the Middle East & Africa (MEA), valued at $11.77 billion and $1.68 billion, respectively.
Supporting Investors and Strategic Partners
Lateral Frontiers: Provides strategic insights for scaling in Africa.
216 Capital: Supports technology-driven growth.
E3 Capital: Focuses on sustainable energy solutions.
Outlierz Ventures: Offers expertise in early-stage scaling.
Satgana: Aligns with Wattnow’s sustainable vision.
Octerra Capital: Strengthens Wattnow’s energy management capabilities.
Wattnow’s Global Impact
Wattnow’s platform already benefits clients across 12+ countries in industries such as aeronautics, automotive, telecommunications, banking, construction, oil & gas, retail, and municipalities. Even without a local presence, companies report significant energy savings, cost reductions, and efficiency gains.
“This funding is a major milestone for Wattnow,” said Issam Smaali, CEO. “With our investors’ support, we can expand globally, enhance our technology, and continue helping clients achieve a sustainable future. Our initial clients in Tunisia are now benefiting from Wattnow across multiple continents, proving our solution’s global value.”
Why Wattnow Stands Out
Wattnow’s AI-powered EMS platform seamlessly integrates into existing operations, offering predictive analytics, real-time monitoring, and actionable insights. This positions Wattnow as the partner of choice for large enterprises and SMEs seeking energy efficiency, cost reduction, and sustainability, whether in developed or emerging markets.
