Hello Watt Secures €12 Million Funding to Drive Southern European Expansion

In a significant stride towards advancing energy efficiency and combating climate change, Hello Watt, the French startup renowned for its energy consumption tracking app, has secured €12 million in its inaugural funding round. The substantial investment, led by BNP Paribas Solar Impulse Venture Fund and Starquest Capital, marks a pivotal moment for Hello Watt, which, after six years of profitable growth, is poised to extend its footprint in Southern Europe.

Sylvain Le Falher, co-founder and president of Hello Watt, emphasizes the critical role of addressing the climate emergency by revolutionizing energy transitions within households. The funding injection, perceived as a positive signal after years of self-financed growth, will propel the development of innovative solutions for monitoring electricity and gas consumption, including the free Hello Watt application and energy renovation services.

Hello Watt’s strategic alliances with Enedis and GRDF enable users to monitor their home’s energy consumption through a mobile application, contributing significantly to the energy transition. According to Le Falher, users of the app saved twice as much energy compared to the previous winter, showcasing the impact of informed consumption. The startup also diversifies its offerings by becoming a solar panel and renewable energy module installer.

With plans to recruit 100 professionals over the next 12 months, Hello Watt is gearing up for expansion, with a particular focus on Southern Europe. The startup has already launched a website in Spain for energy provider comparisons and aims to make its application available in collaboration with local energy network managers. Le Falher notes the untapped potential in Southern Europe, where solar energy adoption is promising and energy prices fluctuate significantly.

Hello Watt’s trajectory extends beyond consumption tracking, with investments in future applications that could control heating or electric vehicle charging using solar energy. The startup’s commitment to sustainability, coupled with its technological prowess, positions it as a key player in shaping the energy landscape of the future.