Bisly, a building automation startup focused on energy efficiency, has raised €3.6 million in a new funding round. The round was led by Aconterra, with participation from Second Century Ventures, REACH UK, SmartCap Green Fund, Pinorena Capital, and several angel investors. Based in Tallinn, Estonia, Bisly partners with both commercial and residential property developers, currently working with over 25 real estate developers and funds. The fresh capital will support Bisly’s efforts to expand its presence in Europe, particularly in the Nordics, DACH region, and the UK.
The company specializes in “intelligent buildings,” which integrate various smart systems such as HVAC, lighting, and security into a single, efficient platform. Globally, the intelligent building market is valued at approximately $86 billion, growing at a compound annual growth rate (CAGR) of 11.4%. This market is expected to reach $148 billion by 2027, largely driven by factors like rising energy costs and compliance with environmental, social, and governance (ESG) goals. The European Union (EU) aims to achieve carbon neutrality by 2050, and its Energy Performance of Buildings Directive (EPBD) mandates significant improvements in energy efficiency for all buildings. Currently, 75% of buildings in the EU do not meet the required standards.
As regulatory deadlines approach, the search for cost-effective solutions to retrofit and construct energy-efficient buildings is intensifying. Bisly aims to provide an affordable alternative to traditional technologies in this space. Its open-standard technology allows for a significant reduction in overall project costs, thanks to its proprietary sensors and streamlined software platform. The system also offers enhanced security through bank-grade encryption.
By integrating manufacturing, installation, building management software, and digital twin infrastructure into one platform, Bisly reduces acquisition costs, making its offering competitive with conventional building practices. The company claims that its closest competitors are operating at a price point that is two and a half times higher. Bisly provides two pricing models: a one-time installation fee combined with a nominal software-as-a-service (SaaS) fee for residential projects, or a higher SaaS fee without upfront costs for commercial clients. In Estonia, Bisly has already captured over 25% of the building automation market within five years.
Siim Vips, Bisly’s CEO and co-founder, stated, “Our platform simplifies the complex world of intelligent building automation, a crucial step in addressing climate change. As the need for smart buildings grows, our solution enables faster and more affordable deployment of sustainable operations.”
Ron Schuermans, founding partner at Aconterra, added, “Bisly’s solutions align with our mission to improve building efficiency, safety, and comfort. With its proven track record in Estonia and beyond, we look forward to supporting Bisly’s international growth.”
Tyler Thompson, Managing Partner of Second Century Ventures, commented, “Bisly’s participation in the REACH UK tech scale-up program highlights the global potential of intelligent building technology, especially as countries pursue net-zero targets.”
Sille Pettai, Member of the Board at SmartCap Green Fund, said, “We are pleased to support Bisly, which has already established itself as a leader in green building technology. Its innovations are helping to reduce the carbon footprint in the real estate sector.”
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By Proptechbuzz
By Ravi Kumar
