London-based xWatts, an
intelligent energy management platform focused on decarbonising complex real
estate assets, has closed a £1.6 million seed funding round. The investment was
led by Cambridge Enterprise Ventures, with participation from Cambridge Angels,
Parkwalk, and R42.
xWatts develops AI- and
machine-learning-based technology to manage energy use across large and complex
real estate portfolios, with the aim of reducing energy costs and carbon
emissions while improving operational oversight of building systems.
The company focuses on
non-domestic buildings across Europe, where energy consumption represents a
significant operational cost, particularly for estates with energy-intensive
systems that can benefit from improved monitoring and optimisation.
Commenting on the funding,
Yigit Akar, CEO and co-founder of xWatts, said:
Our aim is to decarbonise
complex real estate in an intelligent, automated, and scalable way. Rather than
only providing insights, our platform actively manages energy systems. This
funding supports continued product development and growth as we scale the
business.
Unlike solutions that
primarily analyse or report data, xWatts connects directly to building energy
systems to model facilities in real time and automate optimisation across
generation and demand, including HVAC, solar, and combined heat and power
systems.
The company says its technology has been deployed across healthcare,
education, and manufacturing facilities, supporting reductions in energy
consumption, operating costs, and associated carbon emissions.
The funding is intended to
accelerate product development and support growth in key European markets,
particularly within healthcare, higher education, and industrial sectors.