Wattnow secures $1.3 Million funding round with backing from 216 Capital
Wattnow has successfully closed a pre-Series A funding round, raising $1.3 million with the support of 216 Capital. Led by Katapult Climate and by our team in 216 Capital, the funding round also saw participation from Launch Africa Venture, Cross Boundary, Oman Technology Fund, and a business angel from Saudi Arabia.
Wattnow, founded in 2018 by Issam Smaali, offers companies a platform to optimize energy usage, reduce costs, and decrease their carbon footprint. The significant success of this funding round demonstrates the industry's confidence in Wattnow's vision and technology.
Notably, we express our excitement about supporting the startup in achieving the raised amount. As a venture capital fund newly incorporated in Tunisia, we recognize the potential of Wattnow's energy management solution and the positive impact it can have on businesses and the environment.
Wattnow's latest funding will be used to strengthen its local sales efforts and expand its presence outside of Tunisia, targeting markets in Africa and the Middle East. Despite the challenges posed by the pandemic, Wattnow has experienced exponential sales growth, attracting market leaders across various sectors such as retail, telecommunications, and banking, as well as industries like aeronautics, cement plants, and pharmaceuticals. The success of this funding round represents a significant milestone for Wattnow, positioning it as a key player in the IoT energy management sector.
With our support and the support of other reputable investors, the company is well-equiped to scale its operations and deliver innovative solutions to businesses seeking to optimize energy usage and reduce costs. Wattnow's mission aligns with the global drive for sustainability and energy efficiency, making it an ideal partner for companies aiming to lower their environmental impact. By expanding its reach into new markets, Wattnow aims to bring its accessible and robust energy efficiency technology to industries, commercial buildings, and corporations across Africa and the Middle East.
The company's commitment to empowering businesses to control their energy consumption and extend the lifespan of their assets demonstrates its dedication to driving economic and environmental sustainability. Wattnow's remarkable growth and future plans reflect its ambition to become a leader in the energy management industry.
As Wattnow continues its journey, the company remains focused on providing cost-effective solutions that contribute to a greener and more efficient future. In conclusion, Wattnow's recent $1.3 million funding round, marks an important milestone in its expansion efforts.
With a strong foundation and the backing of key players in the industry, we are happy and delighted to invest in a startup that revolutionizes the energy management landscape across Africa and the Middle East, offering companies the tools they need to optimize energy usage, reduce costs, and achieve sustainability goals.
With the collaboration of Wattnow, we have full confidence in embarking on a fresh stage of advancement that will nurture ongoing progress and enlargement.