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Estonia focuses on being energy-efficient and smart, and so do its startups. This week, Estonian startup Bisly secured €4.3 million in funding to accelerate its expansion across Central and Western Europe. The company, which focuses on smart building automation, plans to deepen its presence in Germany, Austria, Switzerland, and the UK while opening a new office in Poland.
Founded in 2018, Bisly creates AI-powered systems that make buildings more energy-efficient. Their cloud-based platform automates lighting, heating, ventilation, air conditioning, and energy systems in residential, commercial, and hospitality buildings.
Bisly’s solution has been designed from the ground up to be as affordable, efficient, and scalable as possible. “We wanted to be hands-on initially, both on the hardware development side and also the software development side,” says the company’s co-founder Siim Vips. “From the start, we have been keeping the hardware components at a minimum. We’re also able to reduce quite a lot of overhead from the sales, installation, and support processes, pushing the cost down. And now we’re reaching the point where the platform and the product are mature enough to open them up to partners, making the business scalable.”
The company’s technology uses digital twin mapping and real-time data to continuously optimise building performance. According to Bisly, their solution can cut costs by up to 50% compared to traditional systems.
Why it matters
Buildings consume around 40% of the European Union’s energy, with roughly 75% of those buildings being energy inefficient. “Our technology helps solve the biggest source of energy consumption: buildings. Saving energy here doesn’t just help the environment, it frees up grid capacity for the next wave of energy demand,” CEO Ants Vill explains.
The company claims that every tonne of CO2 avoided using their technology is up to six times more cost-effective than achieving the same reduction through transport electrification. And the market has an appetite for such innovations.
Bisly tripled its core business revenue last year and expects similar growth in 2025. The new funding round was led by 2C Ventures, with participation from existing investors including Aconterra, Pinorena, Founders of Foxway, and Estonia’s state-backed SmartCap fund. The company has now raised €13 million in total funding and works with partners across Europe, including Crown Estate, Bonava, and Pro Kapital.
