Bisly Raises €6.2M for its Energy-Saving Building Automation Solution

Article written by Bisly:

The hard work has paid off – we are delighted to announce that we have closed our A round with a total of €6.2M to further develop our smart building solutions, fuel our expansion into new markets and continue to make energy savings affordable for all!

From day one, our goal has been to provide building professionals with high quality, next generation smart building solutions using our patented technology, making energy savings easy and affordable. We have had inspiring supporters in our mission and are now honoured to announce that our new investors include Foxway founders Urvo Männama and Paul Padrik. They join Aconterra, SmartCap Green Fund, Pinorena Capital and several angel investors who invested in Bisly via convertible instruments last year.

The EU’s energy challenge: Aging buildings and high costs

According to the European Commission’s Energy Performance of Buildings Directive, around 40% of all the energy consumed in the EU is used in buildings. In addition, 85% of all buildings in the EU were built prior to 2000, and 75% of those buildings have poor energy performance.

Such a large stock of older, energy-inefficient buildings presents a serious challenge to the EU’s next set of climate goals, and underscores the need for smart building solutions. These already exist for new builds and as retrofit, but are prohibitively expensive—currently the biggest impediment for widespread adoption.

If every building in the EU were converted to a smart building, it could reduce EU-wide emissions by as much as 10%.

Bisly is smart building tech at its smartest – no-code, affordable, and scalable

Thanks to its superior use of technology, both hardware and software, Bisly addresses the scalability, cost, and integration issues related to smart buildings. Its solution is cost-effective, secure, and cloud-connected.

On the software side, Bisly blends its unique Single Cloud Platform that integrates different stages of the customer experience with its patented digital twins system. Created using the specific building’s floor plans and specifications, the digital twin system accelerates setup and continually tracks consumption data, optimising areas where efficiency measures are lagging and improving energy conservation and financial savings over time.

Bisly’s hardware products integrate with different brands so developers don’t suffer from vendor lock-in. This translates into overheads that are up to 80% lower.

More news: management change at Bisly

In addition to the great A round news, we have more news to share!

Former Chief Operating Officer Ants Vill has been appointed CEO to spearhead these growth efforts. Prior to Bisly, he facilitated scaling efforts as COO and then CCO at Skeleton Technologies, a global leader in supercapacitors and batteries.

This funding round enables us to do two things simultaneously: expand into new markets while continuously innovating our product range in such a way that we continue to set the newest industry standards.In addition, we are convinced of Bisly’s potential in our generational mission to combat climate change. Its emissions reducing systems are a much-needed partner to advances in clean energy production elsewhere. We’re thrilled to have forward-thinking investors who feel the same.

– Ants Vill, Bisly CEO

Vill’s transition to CEO is in line with co-founder Siim Vips’ long-term strategy. Having brought the company to its current position as market leader in Estonia and led the foundations for scalability, Vips will now take on the role of Chief Strategy Officer.

Building automation has been around for some time, but what sets Bisly apart is our patented digital twin technology and unparalleled scalability. This approach allows us to create detailed virtual models of physical systems, enabling unparalleled efficiency and control. We are proud to contribute to the well-being of both our planet and end users, while making smart building systems smarter, as they should be.

– Siim Vips, Bisly CSO

The supervisory board has also expanded with the additions of Sergei Anikin, the respected angel investor and former Pipedrive CTO, and Jarek Kurnitski, best known for his work as a Professor of Energy Performance and Indoor Climate in Buildings at Tallinn University of Technology.

From the outset, the process has been based on shared values and a common business mindset. This investment will enable us to accelerate sales growth in foreign markets and scale up our team to support the international expansion. With strong backing, we are ready for significant growth and increasing shareholder value.

– Kristjan Kõrgmaa, Bisly CFO

High investor confidence accompanies outsize financial support

Great work can be done with great ideas, great products and, not least, great people. Here is what our investors say about Bisly.

Bisly is in an excellent position, and it has the team capable of rising to the occasion. The global intelligent building market is expected to hit $148 billion by 2027. That, together with ESG measures growing stricter in order to meet the EU’s carbon neutrality goals, mean there is virtually no limit for how far a practical solution like Bisly’s can go.

– Urvo Männama, co-founder at Foxway

The demand for smart building automation is increasing and will continue to grow, but building professionals often struggle to find scalable and easy-to-install solutions. Bisly’s technology bridges this gap and raises the bar for smart building systems.

– Ron Schuermans, Aconterra

Having proven their expertise in Estonia, Bisly is well-positioned to meet the increasing global demand for smart building technology. Their advanced solutions and strong team make them well-equipped to drive significant reductions in the carbon footprint of buildings worldwide, contributing to broader climate change initiatives.

– Robert Martin, SmartCap

Next in line: Smart growth and expansion

By 2025, we aim to deepen our presence across Europe. This will pave the way for our expansion into the US market. Building on our success in our home market of Estonia, we aim to become the preferred solution for builders and construction projects worldwide, starting with the UK, Germany, Lithuania and Latvia.

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