Sofia-based startup AIoTCloud, specializing in AI-driven energy optimization, has secured €750,000 from CleverPine Ventures and existing investors to expand its regional and European presence.
- Founded in 2022 by Nikola Ruychev, Denis Florov, Kaloyan Georgiev, Marko Markov, and Vladimir Todorov, AIoTCloud develops AI-driven energy management solutions that help businesses optimize consumption, reduce costs, and enhance sustainability.
- The platform provides real-time monitoring, detailed analytics, and automation tools to streamline energy operations. Users can track electricity usage per appliance, analyze consumption patterns with heatmaps, automate device control, and generate reports effortlessly.
- AIoTCloud’s React Mode enables businesses to respond to energy fluctuations dynamically, while alarms and notifications ensure proactive management.
Details of the deal
- The round was led by Sofia-based VC CleverPine Ventures, with notable participants including Dimitar Dimitrov and Blagoy Stoyanov.
- AIoTCloud plans to use the fresh capital raised to further develop its product, expand into key markets, and strengthen its regional and European footprint. This funding will help the company accelerate its growth, expand its client base, and enhance its energy management solutions.
"We have grown in number, closed several important projects, and are looking forward to 2025. Our plan is to use all our lessons learned and achievements to boost our potential and drastically grow. We are excited about what the future holds and ready to tackle it face-on," AIoTCloud's team, commented on LinkedIn.
