Tallinn-based Bisly secures €3.6 million in funding. The round was led by Aconterra with support from Second Century Ventures and REACH UK, SmartCap Green Fund, and Pinorena Capital, as well as several angel investors.
The new funding will be used to capture a fast-growing market by widening and deepening Bisly’s market engagement in Europe, with an emphasis on the Nordics, DACH region, and the UK.
Bisly is making waves in a market currently dominated by legacy solutions that cannot meet the demands of most real-world budgets. Bisly’s open-standard technology offers a drastic reduction in total project costs with specially-developed sensors that install quickly, together with a simple and secure software platform that uses bank-grade encryption.
By combining all aspects of Intelligent Building — manufacturing, installation, building management software, and digital twin infrastructure — into one platform, Bisly is able to reduce acquisition costs to the point of near parity with conventional construction and management practices, while dramatically reducing installation and running costs.
Bisly CEO and co-founder Siim Vips said, “With our unified intelligent building platform, Bisly is simplifying a very complex industry that is addressing the even more complex problem of climate change,People are just becoming familiar with the concept of smart homes or smart buildings, and intelligent buildings go even a step beyond that. We are driven by a high degree of urgency and by the fact that our solution will get more buildings into sustainable operations in less time and less money than any other solution on the market.”
Ron Schuermans, founding partner at Aconterra said, “Aconterra’s dedicated commitment to enhancing building efficiency, safety, health, and comfort aligns seamlessly with Bisly’s innovative solutions. With a proven record of delivering high-quality products and a smooth onboarding process across Estonia and neighboring regions, Bisly has established itself as a reliable player. Aconterra looks forward to actively supporting Bisly in its global expansion,”
Bisly offers either a nominal SaaS fee combined with a one-off installation “buyout” fee for residential projects, or a slightly higher monthly SaaS fee and no up-front costs for commercial projects. In its founding market of Estonia.
Bisly building automation system is an intelligent system of both hardware and software, connecting heating, venting and air conditioning system (HVAC), lighting, security, and other systems to communicate on a single platform.
Bisly has achieved a market leadership position in building automation, capturing over 25% of the total market there in less than five years.