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[Funding alert] IoT-based SaaS Platform Lumian’s Secures $3.2M in First Round Funding

IoT-based SaaS Platform Lumian's Secures $3.2M in First Round Funding. The Turkish entrepreneurs Batu Balkır and Emre Birol founded Lumian in April 2023, and they promptly moved the company's headquarters to the United States.

IoT-based SaaS Platform Lumian’s Secures $3.2M in First Round Funding. The Turkish entrepreneurs Batu Balkır and Emre Birol founded Lumian in April 2023, and they promptly moved the company’s headquarters to the United States.

The business has created an AI-powered IoT-based SaaS platform that offers in-depth knowledge of energy provisioning, bill analysis, and energy efficiency.

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Lumian provides the best business tariff options after analysing the energy consumption patterns of businesses. With its SaaS and IoT-powered software, the startup provides facilities with effective energy consumption analysis and optimisation. Its products are integrated with a range of industrial devices and Automated Metre Reading Systems (AMRS).

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Turkish businesses like Pakmaya, Tebplast-Rosti, Polmar, Balorman, Gençler Kablo, and Başoğlu Kablo are among its clients. With the latest investment from DOMiNO Ventures and industry expert İsmail Ferhat Özlü in the energy sector, Lumian hopes to expand its sales volume in international markets.

Co-founder Batu Balkır said: “The strategic pre-seed investment will play a crucial role in executing Lumian’s growth strategies.Our energy efficiency solutions are versatile, suitable for a wide range of applications from industrial facilities to commercial organisations and poised to significantly contribute to sustainability.”

About Lumian’s

Lumian, As a leader in smart energy management solutions, we assist clients in precisely calculating energy consumption, increasing efficiency, and lowering CO2 emissions through the use of purpose-built AI that has been trained by industry experts.

Read also – London-based Labrys Technologies Secures $5.5M in Seed Funding

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