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

Startup Bisly secures €3.6 million for energy-efficient building automation in the EU to serve the growing market for smart buildings. Its low-cost technology promises to boost conventional solutions for the energy efficiency of buildings.

The startup Bisly has closed a €3.6 million financing round. The round was led by Aconterra and supported by Second Century Ventures and REACH UK, SmartCap Green Fund and Pinorena Capital as well as several business angels. The Tallinn-based start-up 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 Nordics, DACH region and the UK.

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

Siim Vips, CEO and co-founder of Bisly

"Intelligent 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 market for smart buildings is estimated to be worth USD 86 billion and is growing at an annual rate of 11.4%. It is expected to reach USD 148 billion by 2027. This growth is driven by strategic factors such as high energy costs and ESG compliance. With the goal of being carbon neutral by 2050, the EU's Energy Performance of Buildings Directive (EPBD) mandates major efficiency improvements in the use of energy 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 challenging legislative timetable, cost-effective solutions are now being sought to equip buildings with the technological intelligence to minimize energy consumption. Bisly is causing a stir in a market currently dominated by outdated solutions that cannot meet the requirements of most real-world budgets. Bisly's open-standard technology offers a dramatic reduction in overall project costs with purpose-built sensors that are installed quickly, along with a simple and secure software platform that uses bank-level encryption.

Smart building technology holds huge potential for global growth as economies around the world strive to achieve net zero targets.

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 acquisition costs to near the level of traditional construction and management practices while dramatically reducing installation and operating costs. Bisly's closest competitors are currently priced two and a half times higher. Bisly offers either a low monthly fee for Software as a Service (SaaS) combined with a one-time installation fee for residential projects, or a slightly higher monthly SaaS fee and no upfront cost 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.