Tallinn-based IoT sensor developer Bisly raised €6,2M
Founded in Tallinn by Siim Vips, Bisly has developed intelligent building sensors and a software platform with bank-grade encryption that allows clients to reduce energy consumption. The sensors require no coding. The startup's solution connects heating, ventilation and air conditioning systems (HVAC), lighting, security cameras, motion sensors, and other devices to one platform.
The CO2 sensors, for example, measure CO2 levels 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 turn off the lights, they can do so remotely from the Bisly application. According to the company, its solution can save up to 50% of energy consumption. The startup works with commercial, residential, and hospitality properties.
Bisly will use the investment to expand into European markets, specifically in German and UK markets. Additionally, the company will work on innovating its product range. As part of the deal, former COO Ants Vill has been appointed CEO of Bisly to lead expansion initiatives.
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 in companies until 2026. It aims to invest up to €20M as equity or convertible instruments until the end of 2024.
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.
