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Sustainable building solutions provider Bisly announced today that it has raised €6.2 million (USD$6.7 million) […]]
Sustainable Building Solutions Provider Bisly Raises €6.2 Million – ESG Today
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Sustainable Building Solutions Provider Bisly Raises €6.2 Million
Susan Lahey
June 19, 2024
Sustainable building solutions provider Bisly announced today that it has raised €6.2 million (USD$6.7 million) in a Series A funding round, with proceeds to be used for its European expansion, including in Germany and the United Kingdom, where the company has already opened offices.
Buildings are a key source of global greenhouse gas (GHG) emissions, and also one of the hardest to replace, given their long-term nature. According to the European Commission, buildings account for 40% of the energy consumed in the EU, and for 36% of energy-related GHG emissions. The financing follows the adoption earlier this year of the EU’s revised Energy Performance of Buildings Directive (EPBD), with new rules aimed at reducing energy use and emissions from buildings across the EU, including targets for all new buildings to be zero emissions by 2030, and to phase out the use of fossil fuels in building heating systems by 2040.
Founded in 2018, Estonia-based Bisly provides a smart technology platform to manage everything from HVAC to lighting, either automatically or remotely, in homes and commercial buildings. The company’s cloud-connected solution uses a digital twin of the building to accelerate setup and continually track consumption data, optimizing areas where efficiency measures are lagging, and improving energy conservation and financial savings over time.
According to Bisly, its solutions reduce up to 30% of building emissions, and are scalable, through the combination of hard- and software system, and hardware that integrates with different brands, enabling more efficient pricing.
Ants Vill, CEO at Bisly 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.”
Vill, who formerly served as Chief Operating Officer, has been named CEO. Prior to Bisly, he facilitated scaling efforts as COO and then CCO at Skeleton Technologies, a global leader in supercapacitors and batteries. Co-founder Siim Vips will now take on the role of Chief Strategy Officer.
The new investors include Foxway founders Urvo Männama and Paul Padrik, who join Aconterra, SmartCap Green Fund, Pinorena Capital and several angel investors who invested in the company via convertible instruments last year.
Urvo Männama, co-founder at Foxway, said:
“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.”
Susan Lahey
Susan Lahey started her career as a business reporter for The Kansas City Star and has worked as a freelancer covering business, investment, technology, sustainability and science for numerous publications. She has also worked as a writer and editor for publicly funded projects mandating environmental cleanup of a molybdenum mine in Northern New Mexico; and recovery and resiliency measures following Hurricane Maria in Puerto Rico. Recently she worked as Director of Communications for a European wave energy company.
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