Estonian startup Bisly raises €6.2M Series A to expand its smart building platform

Bisly, a Tallinn-based startup providing smart building automation solutions, has raised a Series A round totaling €6.2 million. The list of investors includes Foxway founders, joined by Aconterra, SmartCap Green Fund, Pinorena Capital, and several angel investors. The round will accelerate Bisly’s expansions into Germany and the UK, as the company informed AIN via press release.

About Bisly

  • Founded in 2018 by Siim Vips with Ants Vill, Bisly is a startup that specializes in the development of an intelligent building platform. In addition, the startup also manufactures custom hardware components that can be integrated into an open software platform.
  • On the software side, Bisly blends its Single Cloud Platform that integrates different stages of the customer experience with its digital twins system. Bisly claims, its digital twin system accelerates setup and continually tracks consumption data, optimising areas where efficiency measures are lagging and improving energy conservation and financial savings over time.

Investment details

  • The fresh round was supported by new investors including Foxway founders Urvo Männama and Paul Padrik.
  • The existing investors like Aconterra, a Belgium venture capital fund investing in European early-stage technology companies, SmartCap Green Fund, a venture capital fund managed by Estonian SmartCap, Pinorena Capital, a private equity firm led by entrepreneur, Illimar Mattus, supporting fintech companies, also joined the round.

Having proven their expertise in Estonia, Bisly is well-positioned to meet the increasing global demand for smart building technology. Their advanced solutions and strong team make them well-equipped to drive significant reductions in the carbon footprint of buildings worldwide, contributing to broader climate change initiatives,

Robert Martin from SmartCap commented.
  • Along with the deal, the company also announced C-Suite transitions in the company. Ants Vips will take on the role of Chief Strategy Officer. The C-suite is rounded out by CFO Kristjan Kõrgmaa, CTO Jaanus Lepik, and CPO Mihkel Kõrgmaa. The supervisory board has also expanded with the additions of Sergei Anikin, the angel investor and former Pipedrive CTO, and Jarek Kurnitski, a Professor of Energy Performance and Indoor Climate in Buildings at Tallinn University of Technology.
  • This funding round will be directed towards Bisly’s plans for expansion throughout Europe, especially Germany and the United Kingdom, where the company has already opened offices and started courting partnerships.

In October 2023, Bisly managed to raise €3.6 million from Aconterra, Second Century Ventures and REACH UK, SmartCap Green Fund I, and Pinorena CapitalI. Read more details below: