Energy management solutions startup Bidgely raises funding


Funding story

Energy efficiency has become a prime concern of our everyday lives. One of the foremost startups involved in making energy efficiency easy is Bidgely, which provides excellent energy disaggregation tools. The startup achieved a major success recently when it raised $16.6 million in a round led by Constellation Technology Ventures, the venture capital  arm of NYSE-listed Exelon. Utility companies E.ON, RWE and Khosla Ventures also participated. Bidgely aims to use the funding for scaling up technology, marketing, and a general expansion in the scale of its operations. E.ON and RWE are expected to play a pivotal role in ensuring the technological scaling-up of Bidgely’s products.

Bidgely’s products

Founded in 2011 by Abhay Gupta and Vivek Garud, Bidgely’s longstanding aim has been the creation of low-cost technology and products which could achieve the highly relevant aim of optimizing and minimizing energy consumption. Its core products are its disaggregation software, which aims at providing consumers with energy consumption data. This is collected by the analysis of relevant energy-use patterns. Moreover, Bidgely also provides helpful suggestions regarding key steps which could be taken based on such data. Smart meter, as well as energy monitors are made use of for collecting such disaggregation information. Its troika of excellent products-HomeBeat Web&Mobile, HomeBeat Energy Monitor and HomeBeat Agent, are all among some of the best out there, when it comes to energy efficiency. And a final bonus is the capability of Bidgely products to show the customer how well their products stack up next to those of their neighbours, regarding energy efficiency.
Bidgely has an international presence, and E.ON and RWE are also expected to help increase the startup’s European footprint. Its Texas-based American client, TXU, is using Bidgely’s cloud-based platform to provide more improved energy management tools.

What the future holds

Bidgely’s products are likely to help its international network of affiliates a lot in the years to come, and the use of innovative technology to provide energy management solutions is likely to be a revolutionary development in today’s world.

Visit Bidgely’s website for more information about their products.