For Sylvain Le Falher, it is inconceivable to attempt to address the climate emergency without seriously tackling the energy transition in homes. As the co-founder and president of the French startup Hello Watt, launched in 2017 with his partner Xavier Coudert, he has just raised 12 million euros from BNP Paribas Solar Impulse Venture Fund and Starquest Capital, both of which have invested equitably.
This initial funding round, “almost entirely in equity” after six years of “profitable and self-financed growth,” is seen by him as a particularly positive signal. It is also a means to accelerate the development of its solutions for monitoring electricity and gas consumption in homes, including the free Hello Watt application, as well as its energy renovation works offering.
Twice the savings with the application
Through partnerships with Enedis and GRDF, Hello Watt allows any individual who wishes to monitor the energy consumption of their home through a free mobile application connected to Linky and Gazpar meter data. “These are fantastic tools to accelerate the energy transition, but it is not a message conveyed by the state,” notes Sylvain Le Falher. “In reality, as we observed last winter, when you have a good tool to monitor and understand your consumption, you reduce it.”
The president of Hello Watt believes that users of the application saved twice as much energy compared to the previous winter as those without his tool. This also helps, according to Sylvain Le Falher, to better understand the need for potential renovations. “We can precisely tell an individual what the profitability of their insulation work, heat pump installation, or solar panel installation will be. But to say that precisely, you need consumption data.”
In addition, Hello Watt operates as an installer of solar panels and other renewable energy modules. The French startup is no longer solely focused on consumption tracking; it provides an energy supplier price comparison tool, supports its clients from start to finish on their renovation projects, and is soon to embark on equally ambitious new projects. “We will continue our investments in the application, which may serve tomorrow, in two years perhaps, to control heating or charge an electric vehicle when electricity is produced by solar,” asserts Sylvain Le Falher.
After Spain, Southern Europe
To meet its ambitions, the startup plans to hire an additional 100 people in the next 12 months, bringing the total workforce to 280 employees. Primarily defining itself as a technology company, Hello Watt is looking for professionals in development and data, as well as in consulting, sales, solar expertise, and marketing. The goal is to meet the needs of an ever-growing customer base. In the last twelve months, its mobile application has been downloaded about 400,000 times.
And the influx of individuals concerned about their energy consumption is far from drying up. Sylvain Le Falher and Xavier Coudert now aim to expand beyond France. This year, the startup launched a website accessible from Spain that allows users to compare offers from energy providers in the country. The application, in collaboration with local energy network managers, should also be available soon.
In general, Hello Watt is closely interested in Southern Europe, where solar energy has significant potential and still needs to be developed among individuals. “There are also countries like Spain where energy prices have evolved a lot during the crisis and where rates change every hour, hence the importance of having a good tool to monitor and control consumption,” explains the entrepreneur. These are challenges that the company promises to overcome as it aspires to move to the next level.
(This article was originally published in French)
