Is your utility bill through the roof? Or are you shivering at home in an attempt to save a few euros? A typical European or US family spends between $1,000 and 3,000 per year on heating and cooling their home, but home energy has come a long way since the fireplace and the lightbulb.
In this article, we’ll take a look into the latest smart energy startups that have been helping people stay warm while saving money, and will continue to do so in 2019. Green energy is ever more important, and these startups can help you save money while reducing your carbon footprint, and disrupting the traditional utility market as we know it.
Below are just a few startups working hard to reduce energy bills and the impact of climate change while keeping you warm this winter.
Tado° – This startup specialising in intelligent home climate management solutions connects heating and air conditioning systems to smart thermostats and the Internet for homes and small businesses. Its smartphone app detects when residents are leaving or approaching their home, or when windows are opened, and takes into account weather forecasts, using adaptive algorithms to save up to 31% on heating costs while improving users’ comfort and wellbeing. tado° products can be purchased from all European Apple stores, and from over 30 utility companies. Founded in 2011 and based in Munich, this startup brings IoT into the market of cleantech, and has raised €96.5 million to date, including €43 million in September 2018.
Homeshift – This startup offers users the simplest way of managing home bills. Through its platform, users can combine their energy, Internet, insurance, council tax and water services to a single and cheaper Homeshift bill. The online dashboard tracks all household bills and services, helping you reduce your paperwork and keep track of costs, renewal dates and usage. This smart energy startup also constantly updates the platform with new deals and shows their customers where else they can save money. Founded in 2014, the London-based company has raised $575k to date.
Tibber – This Stockholm-based startup has created an app that acts as an energy company and advisor for home owners. The app works as an intelligent assistant that can buy, control, and save energy. You can buy electricity directly through the app, which also monitors your home and learns how to save you energy, while controlling your home from your mobile. Founded in 2016, Tibber has raised $1.8 million to date. According to its founders, “The only smart electricity is the one you do not use.”
Labrador – Founded in 2013, this London-based startup has a device – The Labrador Retriever – that makes sure you’re always on the cheapest energy plan available. Once plugged into a mains and router, Labrador Retriever can constantly track a household’s energy consumption while monitoring the market for better deals. If the UK-based startup has found a better deal for its user, the switch can be made automatically, or send a recommendation instead. The startup has raised £1.5 million to date.
Otovo – This Norwegian startup is making green energy more accessible for residents in Nordic states by helping them to easily install solar panels on their roofs. The startup was the winner of the Oslo Innovation Award 2018, and recently raised €10.5 million to expand its solution across Europe. Founded in 2016, Otovo has created unique platform that sells solar panels, simplifies installations, and compares the costs of dozens of local installers in a moment. Otovo’s solar panels generate clean energy for 25 years, and the startup buys back any extra energy produced. The startup’s planned European expansion will help accelerate the transition to a greener economy across the continent.
Watty – Founded in 2013, this Stockholm-based smart energy startup targets the smart home market. The complete solution consists of a piece of hardware, the Watty by and the app that takes you through unique algorithms and tells you what appliances are running in your home, and how much energy consumption is being used – all of this is real time. This innovative creation gives its users the power to control their energy consumption, and be more efficient. The startup has raised €4.1 million to date.
Ecoisme – Based in London, Ecoisme is a smart energy monitoring system for residential homes, which detects all major devices in a home with a single sensor connected to the fuse box, combined with an app. The startup provides an electricity bill forecast, measures the amount of electricity used by different devices, and allows you to switch your utility provider, saving you up to 15% on energy bills while keeping your house warm. Founded in 2013, the startup has raised $651.3k to date.
Viridom – Based in Nicosia, Cyrpus, and founded in 2014, Viridom is a data energy management service providing intelligent usage guidance to users in order to make their homes and workplaces more energy efficient. Its B2B software solutions put electricity users in control of their production, consumption, and storage by collecting and processing energy data and operating a set of algorithms for cost and energy usage optimisation. It collects data including user preferences, electricity consumption and production, energy pricing, and weather information to deliver a flexible schedule that operates appliances in the most efficient way. Viridom offers users cost minimisation and comfort maximisation, provides real-time, actionable recommendations, and contributes to a greener environment.
Cozify – Based in Espoo, this Finnish startup founded in 2013 democratises homes automation by lowering the threshold of starting to build a smart home. As the IoT matures, smart devices have crept into our homes, resulting in a clutter of unconnected apps. Cozify Hub automates them across different application silos such as energy, security, lighting and domestic appliances, combining the wireless devices of several different device manufacturers into one package, with all devices controlled by Cozify’s easy-to-use app.
Hometree – Founded in 2016, this London-based startup is an online platform for buying grade A boilers, taking the hassle out of the process and guaranteeing a fixed price. The boilers are fully installed by a professional engineer and come with a 10-year warranty. By asking a few simple questions, Hometree determines the right boiler for your home, offering the best deal for homeowners seeking to reduce their energy bills. Hometree’s ambition is to become a new type of energy company that helps homeowners install and finance a range of products to reduce their reliance on the grid and typical energy suppliers. So far, the startup has raised $15.3 million.
By the way: If you’re a corporate or investor looking for exciting startups in a specific market for a potential investment or acquisition, check out our Startup Sourcing Service!
