Comwatt provides innovative “box" to optimize self-consumption of renewable energies. Incubated at Montpellier BIC since 2013, the company now leads its market in France and seeks to become #1 in Europe for smart energy management.
Third round of fundraising
The startup had a staff of 25 employees in 2018 and expects to double its revenue, which reached €2 million in 2017.
“Hosted at Cap Omega, I was able to benefit from a stimulating ecosystem, surrounded by national champions in renewable energies as well as digital technologies, everything Comwatt needed to produce a high-level product. That, and some sun! ” exclaims the Montpellier native.
With that goal, Comwatt worked with its partners to build a network of two hundred installers, all trained by the company and subject to quality control. Comwatt also plans to accelerate its business development in France and Europe thanks to a third round of fundraising for an amount of €2.3 million finalized in July 2018.
“Half will be reinvested in R&D so that we can continue equipping our tools with artificial intelligence and provide an even simpler offering, with more performance and at a lower cost, while securing the customer experience.”
According to Grégory Lamotte, “nearly four million French homes will be concerned by self-consumption within the next twelve years, compared to 30,000 today.”