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Home Energy Management Platform Bidgely Raises $17M In Series B Round

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To further scale up its global commercial deployment, energy management platform Bidgely has raised $16.6 Mn in Series B funding round led by Constellation Technology Ventures (investment arm of Exelon Corporation), E.ON and RWE.

Founded in 2011 by Abhay Gupta and Vivek Garud, Bidgely has offices in Bangalore and Sunnywale. Products built in Bangalore helps the customers to see what appliances are turned on, how much energy they are using, and how much it is costing to the overall electricity bill.

It has built energy monitor that tracks individual appliances and their energy consumption though the ZigBee gateway connected to smart meter, a mobile app to track this and get analytics report on energy consumption and also customer service .

In India, Bidgely competes withGurgaon-based startup Zenatixprovides web-enabled software,ZENSoft that enables the energy consumers monitor their energy consumption pattern at various system/appliances levels.

Abhay Gupta, CEO at Bidgely Gupta, CEO at Bidgely Gupta, CEO at Bidgely said –

We doubled our team in the last year and a half and our revenue pipeline is healthy with over 3Mn smart meters under contract. We’re already executing against a 10x pipeline (year over year). Our clients have become our investors, we believe we’ll undergo a rapid increase in adoption.

The company has an energy monitor and an accompanying app, which helps consumers compare energy consumption with neighbours, identify the most energy draining devices and while allowing them to remotely control thermostats and such.

Bidgely has its products embedded into more than 3-million homes across North America, Australia, New Zealand and Europe. The company is deploying 12 customer projects such as those announced with ComEd, London Hydro and TXU.

Senior Writer

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