Estonian IoT sensor developer Bisly raises €4,3M

Bisly, an Estonian developer of IoT sensors for living and working environments has raised €4,3M. The funding round was led by 2C Ventures with participation from business angels from SmartCap, Aconterra, Pinorena, and Foxway.

Founded in 2018 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 funds raised will be used to expand Bisly in the DACH region and the UK, as well as to open a new office in Poland, and to launch the company's product line for wireless communication modernization.

Founded in 2024 by Herty Tammo, Hendrik Reimand, Taavi Veskimägi, and Martin Koppel, 2C Ventures aims to provide startups with initial investments ranging from €250K to €1M and follow-on investments in later rounds. In early 2024, 2C Ventures closed €32M for its fund, €20M of which was secured from the Estonian SmartCap Green Fund. The target size of the fund is €50M.