What does equiwatt do?
Equiwatt is a UK-based energy management company that offers a free consumer app designed to reward users for reducing electricity usage during peak times. The app works with smart meters and devices like heat pumps, batteries, and electric vehicle chargers, allowing households to participate in schemes that help ease grid pressure and earn rewards.
How much did they raise?
The company raised £700K in a Series A round, with leadership from The North East Venture Fund and Mercia Ventures, supported by the European Regional Development Fund and private investors.
What are their plans for the money?
With the new funding, Equiwatt plans to roll out its powerResponse SaaS platform targeted at utility companies and low-carbon technology manufacturers, aiming to drive significant growth and further embed sustainable energy practices across the sector.
What have they achieved so far?
Equiwatt has already marked a significant milestone with the adoption of its powerResponse platform by a major UK energy supplier, underscoring the platform's potential and impact in the energy management space.
