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Smart Building Pioneer Bisly Secures €6.2M Series A Funding to Expand Across Europe

Bisly secures €6.2M Series A funding to scale its smart building solutions across Europe, enhancing energy efficiency and sustainability
June 20, 2024

Bisly, a startup in smart building automation solutions, has secured €6.2 million in Series A funding to bolster its emissions-slashing platform across Europe. This funding round was led by new investors, including Foxway founders, Urvo Männama and Paul Padrik, alongside Aconterra, SmartCap Green Fund, Pinorena Capital, and several angel investors who had previously invested via convertible instruments. 

Bisly, already a market leader in Estonia, will direct this investment towards expanding its operations across Europe, focusing particularly on Germany and the United Kingdom, where it has recently opened offices and initiated partnerships with high-profile clients.

The European Commission's Energy Performance of Buildings Directive highlights that approximately 40% of the EU's energy consumption occurs in buildings. Alarmingly, 85% of these buildings were built before 2000, and 75% suffer from poor energy performance, presenting a significant obstacle to the EU's climate goals. Bisly's smart building solutions aim to address these challenges by offering cost-effective, secure, and cloud-connected technology. 

Ants Vill, former COO of Bisly, has been appointed CEO to lead the company's growth efforts. His strategic vision, combined with the leadership of co-founder Siim Vips as Chief Strategy Officer, positions Bisly strongly for expansion into new markets and continuous innovation in product development. The company's executive team is complemented by CFO Kristjan Kõrgmaa, CTO Jaanus Lepik, and CPO Mihkel Kõrgmaa, with an expanded supervisory board including notable figures like Sergei Anikin and Jarek Kurnitski.

"This funding round enables us to expand into new markets while setting new industry standards with continuous innovation in our product range," said Ants Vill, CEO at Bisly. "We are committed to combating climate change by providing emissions-reducing systems that complement advances in clean energy production."

Looking ahead, Bisly aims to strengthen its presence across Europe by 2025 before targeting the US market. With proven expertise and a strong team, Bisly is well-equipped to drive significant reductions in the carbon footprint of buildings globally, contributing to broader climate change initiatives.

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