Wattnow, a Tunisian startup specializing in AI-powered energy management solutions, has secured an undisclosed investment from Lateral Frontiers Venture Capital. The funding comes from Lateral Frontiers’ recently closed $28 million Fund II, aimed at supporting high-growth ventures across Africa and beyond.
Founded in 2018 by CEO Issam Smaali, Wattnow has developed a smart energy management system that empowers businesses to optimize their energy consumption. By leveraging artificial intelligence and data analytics, the platform identifies trends, waste sources, and anomalies in real-time. This enables companies to reduce operational costs and minimize their environmental impact.
“Our mission at Wattnow is to help businesses become more energy-efficient and environmentally responsible,” said Smaali. “This investment from Lateral Frontiers VC will accelerate our technology development and expand our global reach.”
Demonstrating significant market traction, Wattnow’s solution is deployed on over 500 sites across three continents. The company recently expanded into France, establishing a subsidiary in Toulouse. This new office will serve as a hub for research and development, strengthening Wattnow’s software and AI capabilities to better serve European clients.
“The establishment of our Toulouse office is a strategic move to tap into Europe’s rich talent pool and innovation ecosystem,” added Smaali. “It positions us to collaborate closely with partners and clients in the region.”
Lateral Frontiers’ investment in Wattnow aligns with its focus on supporting innovative companies in the energy sector. The firm’s Fund II targets startups operating in financial services, energy, and business products and services. Lateral Frontiers has a strong track record of investing in high-potential startups across emerging markets, with a portfolio spanning sectors like fintech, e-commerce, and healthcare.
“We are excited to support Wattnow as they tackle critical energy management challenges for businesses worldwide,” said a spokesperson from Lateral Frontiers VC. “Their AI-driven platform not only offers cost savings but also contributes to global sustainability efforts, which aligns perfectly with our investment goals.”
With rising energy costs and increasing emphasis on sustainability, businesses are actively seeking solutions to manage and reduce their energy consumption. Wattnow’s platform provides actionable insights, helping companies make data-driven decisions to optimize energy use and reduce waste.
According to industry analysts, the global energy management systems market is expected to witness substantial growth in the coming years, driven by technological advancements and regulatory pressures to reduce carbon emissions.
This investment reinforces Lateral Frontiers’ commitment to the African tech ecosystem, recognizing the continent’s burgeoning talent and potential to drive global innovation.
The new capital will enable Wattnow to accelerate product development, enhance its AI capabilities, and scale operations in existing and new markets. The startup aims to be at the forefront of energy management solutions, contributing significantly to global efforts in energy efficiency and sustainability.
