Tunisia-based IoT energy management solution Wattnow, has closed a $1.3 million pre-Series A funding round, led by Katapult Climate and 216 Capital to boost its local sales and expand outside of Tunisia, targeting markets in Africa and the Middle East.
The Pre-Series A financing was led by Katapult Climate and 216 Capital, with participation from Launch Africa Venture, Cross Boundary, Oman Technology Fund and a business angel from Saudi Arabia.
Wattnow helps companies gain actionable insights on their overall energy usage that lets them cut down energy bills and reduce carbon footprint. The Smart Energy Monitoring System identifies trends, waste sources and anomalies, in order to maintain optimal energy consumption across all covered locations.
“In a world where energy costs are increasing week after week, Wattnow’s platform and technology have the potential to help businesses significantly reduce their energy bill but also their impact on the environment. We are very excited to support Issam and the Wattnow team in their exciting journey.”
~ Dhekra Khelifi, Partner at 216 Capital
The fresh funds would enable Wattnow to boost local sales. Wattnow aims to deploy a part of the funds into its internationalisation, targeting markets in Africa and in the Middle East, while always keeping an eye on where the environmental impact can be the highest.
“This round will play a major role in helping us take Wattnow to the next level. As a 100% Tunisian startup, the whole team is very proud to have been able to make it to this stage, and the best is yet to come.”
~ Issam Smaali, CEO of Wattnow
