eqtventures

Say W(h)aaaa…. tty!

Hjalmar Winbladh

EQT Ventures is happy to join Watty’s €3 million investment round alongside Nordic accelerator Cleantech Invest and current and new investors. Watty uses deep learning to identifying what home appliances are on, at what time, based on the electricity meter data.  Using simple visualizations, Watty breaks down users’ energy costs for immediate understanding of exactly how energy is spent in their homes and what they can do to reduce their energy bills.

“We’ve kept an eye on Watty’s founding team since the company’s inception. With a rare combination of entrepreneurial drive, best-in-class machine learning knowledge, and executional precision, Watty is perfectly fit to shake things up on the global energy market. When EQT Ventures got the chance to support their still early journey we didn’t hesitate”, says Hjalmar Winbladh, Founding Partner at EQT Ventures.

”I’m thrilled to be bringing new partners onboard”, says Watty CEO Hjalmar Nilsonne. ”Few investors know the in-and-outs of the latest machine learning developments, and even fewer know the energy sector well. Working with both Cleantech Invest and EQT Ventures is a perfect match for us. We get deep industry expertise from Cleantech Invest paired with a strong experience of scaling technology businesses globally from EQT Ventures”.

Watty’s technology is packaged as a simple-to-use software-as-a-service offering where data from anywhere is pushed to Watty’s platform. The product allows people to see their energy use broken down by appliance – and to compare each appliance’s cost to other similar homes. With this information tailored recommendations are presented about the smartest way to save energy and money. Watty also offers real- time safety features for checking the current activity in your home – for those ‘ did-I-leave-the-stove-on’ moments.

Watty uses deep learning to identifying what home appliances are on, at what time, based on the electricity meter data.  Using simple visualizations, Watty breaks down users’ energy costs for immediate understanding of exactly how energy is spent in their homes and what they can do to reduce their energy bills. Several big European utilities are currently working with the company on large- scale deployments.