Cambridge-based xWatts has successfully raised $1.8 million in pre-seed funding to advance its mission of reducing energy costs.
Led by European VC Antler, the funding round supports xWatts’ innovative solutions, promising clients energy savings of up to 40%.
At the forefront of energy optimisation is xWatts, a company using innovative technology to connect diverse energy systems within buildings. This approach not only reduces energy costs but also minimises emissions. Their technology integrates machine learning and physics-based modelling, offering predictive control and automatic system adjustments. Such advancements make xWatts a leader in the drive towards energy efficiency.
Founded by Alexander Allen and Yigit Akar, who honed their skills at the University of Cambridge, xWatts stands as a testament to academic prowess meeting practical application. Both founders bring experience from global energy firms. While at Antler’s programme, they refined their business model, focusing on resolving the disjointed energy systems in commercial structures. The idea is to streamline operations, enhancing both financial and environmental outcomes.
The strength of xWatts lies in its ability to integrate and automate energy systems across various facilities. By directly connecting with building management and IoT systems, the platform constantly analyses energy use, adjusting operations according to external factors like market data and weather conditions. This continuous monitoring allows for real-time optimisation, cutting costs significantly while boosting energy efficiency. Implementing such systems helps clients achieve up to 40% in cost reductions.
To meet its expansion goals, xWatts plans strategic hires in key areas such as product development and business outreach. This approach not only propels the company toward growth but also aligns with global efforts to reduce carbon footprints.
Industrial applications of xWatts’ technology have shown profitability increases exceeding 15%, a clear indicator of the platform’s economic advantage. As xWatts continues to evolve, it becomes not just a solution provider but a catalyst for broader industry transformation.
A key opportunity lies in the growing demand for energy-efficient solutions amidst rising energy prices. xWatts’ ability to deliver measurable savings positions it as a vital part of the sustainability equation.
Looking forward, xWatts is not only poised to revolutionise how buildings utilise energy but also to contribute significantly to global sustainability ambitions. Its strategic approach and proven technology form a strong foundation for future growth and impact.
xWatts is poised to become a key player in reducing global energy costs and emissions.
Through strategic expansion and innovative technology, it stands ready to meet future challenges and opportunities.
