evoly wins CHF 150,000 to boost development of next-gen energy smart meters
01.11.2022
Supported by the EPFL’s Startup Unit and Y Combinator, evoly offers smart electric and water metering as a service using novel IoT solutions. The company is developing plug-and-play solutions to help utilities and cities better understand and manage their energy use, making actionable data accessible thanks to its smart meters and waste collection sensors. evoly was awarded CHF 150,000, winning the third stage of the Venture Kick program.
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evoly developed a highly innovative and cost-efficient solution to a problem that affects energy providers and consumers, namely the lack of data. While smart metering has been around for years, they remain expensive, difficult to deploy, and heavy on battery usage. As a result, more than 65% of utilities in the world still rely on old-gen meters that require manual reading by a technician on a regular basis for billing, generating over USD 5 billion in costs in the US alone.
The startup’s plug-and-play solution makes smart meters easy to deploy and easy to manage, allowing a simpler transition to smart metering at a fraction of the cost compared to current solutions, enabling a smarter and more energy-efficient planet. With its software, the company enables energy providers to perform remote readings, create precise forecasting models, set up automated billing, detect fraud, and engage in dynamic pricing, among other things.
In the waste disposal sector, the company’s sensors technology can be used to transmit the capacity level of waste containers, helping customers to implement cheaper, more efficient, and more environmentally conscious waste collection practices.
The company has already signed multiple deployment test agreements with utilities in the US and waste managers in Switzerland. It plans to use the CHF 150,000 Venture Kick award to further develop its sensor and smart meter technology and expand its customer base.
evoly’s founders are Hassan Lantry (CEO), a data scientist and mathematician, and Sami El Bouari (CTO), a mechanical engineer from École polytechnique fédérale de Lausanne (EPFL).
"The EPFL ecosystem and Venture Kick, are the first structures that believed in us," they affirmed. "VK’s financial support has been instrumental in helping us execute our first pilots and achieve the needed milestones to get into Y Combinator and to the US market. We are very thankful that they are part of our journey."
evoly's founders, Hassan Lantry (left) and Sami El Bouari
The startup’s plug-and-play solution makes smart meters easy to deploy and easy to manage, allowing a simpler transition to smart metering at a fraction of the cost compared to current solutions, enabling a smarter and more energy-efficient planet. With its software, the company enables energy providers to perform remote readings, create precise forecasting models, set up automated billing, detect fraud, and engage in dynamic pricing, among other things.
In the waste disposal sector, the company’s sensors technology can be used to transmit the capacity level of waste containers, helping customers to implement cheaper, more efficient, and more environmentally conscious waste collection practices.
The company has already signed multiple deployment test agreements with utilities in the US and waste managers in Switzerland. It plans to use the CHF 150,000 Venture Kick award to further develop its sensor and smart meter technology and expand its customer base.
evoly’s founders are Hassan Lantry (CEO), a data scientist and mathematician, and Sami El Bouari (CTO), a mechanical engineer from École polytechnique fédérale de Lausanne (EPFL).
"The EPFL ecosystem and Venture Kick, are the first structures that believed in us," they affirmed. "VK’s financial support has been instrumental in helping us execute our first pilots and achieve the needed milestones to get into Y Combinator and to the US market. We are very thankful that they are part of our journey."
evoly's founders, Hassan Lantry (left) and Sami El Bouari
Additional Links
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