Estonian proptech company raises €6.2M Series A to expand its emissions-slashing smart building platform across Europe

Tallinn-based smart building tech company Bisly has secured €6.2M in a Series A funding round to expand its innovative emissions-reducing platform across Europe. The funding round was led by notable investors, including Foxway founders Urvo Männama and Paul Kristian Padrik, along with Aconterra, SmartCap Green Fund, Pinorena Capital, and several angel investors. Bisly’s platform integrates hardware and software to provide cost-effective, scalable, and secure smart building solutions, leveraging their patented digital twins system. The new funds will enable Bisly to enter new markets, enhance their product range, and contribute significantly to energy savings and emissions reduction in buildings, addressing a crucial need in the EU’s climate goals.

The European Commission reports that buildings account for 40% of the EU’s energy consumption, with a significant portion of these buildings being energy inefficient. Bisly’s technology offers a scalable, cost-effective solution to this problem, enabling both new constructions and retrofits to achieve substantial energy savings and emissions reductions.

Bisly’s platform integrates hardware and software to provide a no-code, affordable, and scalable smart building solution. Their patented digital twin technology creates detailed virtual models of physical systems, optimizing energy usage and reducing overhead costs by up to 80%. This system is cloud-connected, secure, and compatible with multiple brands, avoiding vendor lock-in.

In line with its growth strategy, Bisly has appointed Ants Vill as CEO. Vill, who previously held key roles at Skeleton Technologies, brings extensive experience in scaling operations. Co-founder Siim Vips will transition to Chief Strategy Officer, focusing on long-term strategic initiatives. Additionally, the supervisory board has been strengthened with the addition of Sergei Anikin, former CTO of Pipedrive, and Professor Jarek Kurnitski from Tallinn University of Technology.

This funding round enables us to do two things simultaneously: expand into new markets while continuously innovating our product range in such a way that we continue to set the newest industry standards.In addition, we are convinced of Bisly’s potential in our generational mission to combat climate change. Its emissions reducing systems are a much-needed partner to advances in clean energy production elsewhere. We’re thrilled to have forward-thinking investors who feel the same,” states Ants Vill, Bisly CEO.

“Building automation has been around for some time, but what sets Bisly apart is our patented digital twin technology and unparalleled scalability. This approach allows us to create detailed virtual models of physical systems, enabling unparalleled efficiency and control. We are proud to contribute to the well-being of both our planet and end users, while making smart building systems smarter, as they should be,” says Siim Vips, Bisly CSO.

“From the outset, the process has been based on shared values and a common business mindset. This investment will enable us to accelerate sales growth in foreign markets and scale up our team to support the international expansion. With strong backing, we are ready for significant growth and increasing shareholder value,” says Kristjan Kõrgmaa, Bisly CFO.

Investors have expressed strong confidence in Bisly’s potential to lead the smart building market. Urvo Männama of Foxway highlighted the growing demand for practical smart building solutions amid tightening ESG regulations and the global market’s expansion, projected to reach $148 billion by 2027.

“Bisly is in an excellent position, and it has the team capable of rising to the occasion. The global intelligent building market is expected to hit $148 billion by 2027. That, together with ESG measures growing stricter in order to meet the EU’s carbon neutrality goals, mean there is virtually no limit for how far a practical solution like Bisly’s can go,” says Urvo Männama, co-founder at Foxway.

“The demand for smart building automation is increasing and will continue to grow, but building professionals often struggle to find scalable and easy-to-install solutions. Bisly’s technology bridges this gap and raises the bar for smart building systems,” states Ron Schuermans, Aconterra.

“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,” mentions Robert Martin, SmartCap

With the new funding, Bisly aims to deepen its presence in Europe by 2025, targeting key markets such as the UK, Germany, Lithuania, and Latvia. This expansion is a precursor to entering the US market, positioning Bisly as a global leader in smart building technology.

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