Retail Energy Shopping Platform Secures $3.25 Million In Series A Funding, Will Help To White Label Service
November 18, 2020 Email This Story Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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WattBuy, an online electricity marketplace and broker, today announced it has raised $3.25 million in its Series A round of funding led by Evergy Ventures.
Additional investors include Updater, Avesta Fund, Yoav Lurie, John Sherman, and Bill Gatreaux.
Existing investors also participating in this round include Fort Ventures, Techstars Ventures and Powerhouse Ventures.
"These funds enable us to expand our turnkey API offering within market leading real estate platforms like Updater as well as personal finance companies and energy services businesses. We’re enabling enterprises to launch their own renewable electricity marketplaces that can increase value to their existing customers," said Naman Trivedi, CEO and co-founder of WattBuy.
WattBuy said that funding from this round will also aid in improving the machine learning model used in its previously reported (story here) launch of a calculator to estimate the electricity cost and carbon footprint impact for nearly every home in the United States. This calculator incorporates several open and proprietary data sources to build a machine learning model that takes location, building characteristics, and weather data as inputs, and returns an hourly electricity usage prediction.
Since its founding in 2017, WattBuy has raised a total of $5 million in venture funding. The company closed its $1.5 million seed round in July 2019.