Wattnow Secures Multi-Million Dollar Funding to Drive Global Expansion of IoT Energy Solutions

Tunisian Startup Wattnow Secures Multi-Million Dollar Investment to Accelerate Global Expansion

Wattnow, a Tunisian startup specializing in IoT-based smart energy management solutions, has successfully closed a multi-million dollar funding round to support its impressive growth trajectory. Since established in 2018 by Issam Smaali, Wattnow provides companies with the tools to optimize their energy consumption through a combination of innovative hardware and software solutions. The company’s services enable clients to monitor their energy usage in real time, control and automate specific loads, and receive alerts and notifications in the event of system anomalies.

Data is collected via smart sensors and processed using advanced machine learning algorithms. This information is made available to users through a cloud-based dashboard, offering detailed reports and analytics that empower companies to make informed decisions about their energy management.

Following a US$1.3 million pre-Series A funding round in 2022, Wattnow has now secured an undisclosed multi-million dollar investment. While the exact amount remains confidential, this latest round is believed to be a Series A, led by Lateral Frontiers and 216 Capital. Other investors participating in the round include Outlierz Ventures, Satgana, Octerra Capital, and a group of strategic angel investors, notably Karim Beguir, founder of InstaDeep, and Guillaume Amblard.

Wattnow’s innovative platform is already delivering significant value to both private and public sector clients across a diverse range of industries, including municipalities, automotive and aeronautics, telecommunications, banking and insurance, heavy industries, oil and gas, construction, and retail sectors. Although Wattnow has had limited international commercial presence to date, it has successfully delivered its solutions to clients in more than 11 countries, including key markets in Europe, the Middle East, Africa, and North America.

"This funding represents a pivotal step in our growth journey," said Issam Smaali, founder of Wattnow. "With the support of our investors, we are now well-positioned to expand our global footprint, enhance our technological offerings, and continue assisting our clients in transitioning to a more sustainable future. The fact that our initial clients, onboarded in Tunisia, are now deployed across multiple continents highlights the global relevance and effectiveness of our solutions."