Estonian intelligent building solution Bisly raised €3,6M
Estonian intelligent building solution Bisly raised €3,6M. The round was led by Belgium VC Aconterra, which focuses on investing in smart building technology. Estonian SmartCap Green Fund, Tallinn-based family office Pinorena Capital, US Second Century Ventures, London-based VC REACH UK, and several angel investors also participated in the deal.
Founded in Tallinn by Siim Vips, Bisly developed sensors and a software platform with bank-grade encryption, which allows clients to reduce energy consumption. The solution connects heating, venting, and air-conditioning systems (HVAC), lighting, security cameras, motion sensors, and other equipment to one single platform.
For instance, the CO2 sensors measure the CO2 level in the room for better control of air ventilation intensity. Video intercom helps open a door to a courier or a child from a distance. If the client forgets to switch off the light, he can do it remotely from the Bisly application. According to the company, its solution can save up to 50% of energy consumption.
The startup works with commercial and residential properties. At the moment, it cooperates with over 25 real estate developers and funds.
Bisly will use the investment to expand into European markets with a focus on the Nordics, DACH region, and the UK.
SmartCap Green Fund is a part of SmartCap, the investment firm, established in Tallinn in 2021 as a subsidiary of the Estonian Business and Innovation Agency. A €100M SmartCap Green Fund supports early-stage Estonian green technology companies – through dedicated venture capital funds and direct investments to companies until 2026. It aims to invest up to €20M as direct investments until the end of 2024. The latest investments were the Estonian developer of the software for farmers eAgronom, the Estonian startup Vok.bikes, and the Estonian solution for reusable packages CupLOOP.
Founded in 2020 in Tallinn, Pinorena Capital is a family office, primarily investing in fintech companies. One of the partners is Illimar Mattus, Estonian co-founder of UK investment firm Tickmill, and an investor in Estonian crypto company Change.
