Estonian construction tech startup Bisly raises €6.2m to expand its smart building platform across Europe
Estonian construction tech startup Bisly, has closed €6.2 million Series A funding round to further develop its smart building solutions, fuel expansion into new markets and continue to make energy savings affordable for all! Bisly's goal is to provide building professionals with high quality, next generation smart building solutions using its patented technology, making energy savings easy and affordable.
Ants Vill, CEO, Bisly: ''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.''
According to the European Commission’s Energy Performance of Buildings Directive, around 40% of all the energy consumed in the EU is used in buildings. In addition, 85% of all buildings in the EU were built prior to 2000, and 75% of those buildings have poor energy performance.
Such a large stock of older, energy-inefficient buildings presents a serious challenge to the EU’s next set of climate goals, and underscores the need for smart building solutions. These already exist for new builds and as retrofit, but are prohibitively expensive- currently the biggest impediment for widespread adoption.If every building in the EU were converted to a smart building, it could reduce EU-wide emissions by as much as 10%.
Urvo Männama, Co-founder, Foxway: 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''
With its superior use of technology, both hardware and software, Bisly addresses the scalability, cost, and integration issues related to smart buildings. Its solution is cost-effective, secure, and cloud-connected. On the software side, Bisly blends its unique Single Cloud Platform that integrates different stages of the customer experience with its patented digital twins system. Created using the specific building’s floor plans and specifications, the digital twin system accelerates setup and continually tracks consumption data, optimising areas where efficiency measures are lagging and improving energy conservation and financial savings over time. Bisly’s hardware products integrate with different brands so developers don’t suffer from vendor lock-in. This translates into overheads that are up to 80% lower.
By 2025, Bisly aims to deepen its presence across Europe. This will pave the way for further expansion into the US market. Building on success in the home market of Estonia, Bisly aims to become the preferred solution for builders and construction projects worldwide, starting with the UK, Germany, Lithuania and Latvia.
Robert Martin, VC, SmartCap: ''Having proven their expertise in Estonia, Bisly is well-positioned to meet the increasing global demand for smart building technology. Their advanced solutions and strong team make them well-equipped to drive significant reductions in the carbon footprint of buildings worldwide, contributing to broader climate change initiatives.''
