Bisly Raises €6.2M to Fuel Smart Building Expansion

London, UK - June 19, 2024: Bisly, the innovative smart building platform, has successfully closed its €6.2M Series A funding round. The investment will accelerate the development of energy-efficient solutions and drive expansion into new markets across Europe. With a focus on affordability and scalability, Bisly’s no-code approach revolutionises smart building technology, making energy savings accessible to all.

From day one, Bisly’s goal has been to provide building professionals with high-quality, next-generation smart building solutions using patented technology, making energy savings easy and affordable. The company’s new investors include Foxway founders Urvo Männamaand Paul Padrik, joining Aconterra, SmartCap Green Fund, Pinorena Capital, and several angel investors who previously invested in Bisly via convertible instruments.

The EU’s Energy Challenge: Ageing Buildings and High Costs

Around 40% of all energy consumed in the EU is used in buildings, according to the European Commission’s Energy Performance of Buildings Directive. Additionally, 85% of EU buildings were constructed before 2000, with 75% of them having poor energy performance. This large stock of older, energy-inefficient buildings poses a serious challenge to the EU’s climate goals. Smart building solutions exist for new builds and retrofits but are currently prohibitively expensive, hindering widespread adoption. If every EU building were converted to a smart building, it could reduce EU-wide emissions by up to 10%.

In an official press release by Bisly, Ants Vill, Bisly CEO said, “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.”

Bisly’s Smart Building Tech: No-Code, Affordable, and Scalable

Bisly addresses scalability, cost, and integration issues related to smart buildings. Its solution is cost-effective, secure, and cloud-connected. On the software side, Bisly integrates its unique Single Cloud Platform with patented digital twins. These digital twins, created using specific building floor plans and specifications, accelerate setup and continually track consumption data. They optimise areas where efficiency measures lag, improving energy conservation and financial savings over time. Bisly’s hardware products integrate with different brands, avoiding vendor lock-in and resulting in overheads up to 80% lower.