Bisly, a startup based in Tallinn, has successfully raised €3.6 million in a funding round led by Aconterra, with participation from Second Century Ventures, REACH UK, SmartCap Green Fund, and Pinorena Capital, as well as angel investors. The company specializes in making any building more energy-efficient, working with both commercial and residential properties. The funding will be used to expand its market engagement across Europe, with a focus on the Nordics, DACH region, and the UK.
Bisly’s platform focuses on “Intelligent Buildings,” which go beyond the concept of smart buildings by integrating and optimizing various smart controllers for functions like HVAC, lighting, and security within a unified platform. The global Intelligent Building market is growing at an estimated 11.4% CAGR, with a market size expected to reach $148 billion by 2027. The push for more efficient buildings is driven by factors like high energy costs and ESG compliance. With the EU’s Energy Performance of Buildings Directive aiming for carbon neutrality by 2050, there’s a growing need for solutions that can retrofit existing buildings to meet these energy efficiency standards. Bisly’s open-standard technology offers a cost-effective approach by significantly reducing project costs.
Their technology combines manufacturing, installation, building management software, and digital twin infrastructure into a single platform, offering a cost-effective alternative to conventional construction and management practices. In their founding market of Estonia, Bisly has captured over 25% of the building automation market in less than five years.
The global push for more energy-efficient buildings makes Bisly well-positioned for growth, aligning with efforts to achieve net-zero goals and reduce carbon footprints in the real estate sector.