Bisly raises €3.6 million for energy-efficient building automation in the EU

Energy-efficient building automation startup Bisly secures €3.6 million in EU funding to serve growing smart building market. Its low-cost technology promises to boost traditional building energy efficiency solutions.

Startup Bisly has closed a €3.6 million funding round. The round was led by Aconterra and backed by Second Century Ventures and REACH UK, SmartCap Green Fund and Pinorena Capital, as well as several business angels. The Tallinn-based startup works with both commercial and residential real estate and is currently executing projects in collaboration with over 25 real estate developers and funds. The new funding will be used to tap into a fast-growing market by expanding and deepening Bisly's market presence in Europe, with a focus on the Nordic countries, the DACH region and the UK.

With our unified smart building platform, Bisly is simplifying an extremely complex industry that is grappling with the even more complex problem of climate change

Siim Vips, CEO and co-founder of Bisly

"Smart buildings extend the potential of smart buildings to be even more efficient by integrating and optimizing individual intelligent controls for functions such as HVAC, lighting and security into a single platform." The global smart buildings market is estimated at $86 billion and growing at a compound annual growth rate of 11.4%. It is expected to reach US$148 billion by 2027. This growth is driven by strategic factors such as high energy costs and ESG compliance. With the goal of being CO2 neutral by 2050, the EU's Energy Performance of Buildings Directive (EPBD) mandates major efficiency improvements in energy use in buildings for heating, cooling, lighting, and hot water. According to the EU, 75% of the current building stock in the Union does not meet the required new standards.

With a proven track record of delivering high-quality products and a smooth onboarding process in Estonia and neighboring regions, Bisly has established itself as a reliable player.

Ron Schuermans, Founding Partner at Aconterra

Faced with a demanding legislative timetable, economical solutions are now being sought to equip buildings with the technological intelligence to minimize energy consumption. Bisly is making a splash in a market currently dominated by outdated solutions that cannot meet the demands of most real-world budgets. Bisly's open-standard technology offers a dramatic reduction in the total cost of ownership for projects with purpose-built sensors that install quickly, along with a simple and secure software platform that uses bank-level encryption.

Smart building technology holds tremendous potential for global growth as economies around the world strive to achieve net-zero goals.

Tyler Thompson, Managing Partner of Second Century Ventures and REACH Global

By bringing together all aspects of the smart building - manufacturing, installation, building management software, and digital twins - into one platform, Bisly can reduce initial costs to nearly the level of traditional construction and management practices, while dramatically reducing installation and operating costs. Bisly's closest competitors currently command a price that is two and a half times higher. Bisly offers either a low monthly Software as a Service (SaaS) fee combined with a one-time installation fee for residential projects, or a slightly higher monthly SaaS fee and no upfront costs for commercial projects. In its founding market in Estonia, Bisly has achieved a market leadership position in building automation in less than five years, capturing over 25% of the total market.