WattBuy, a NYC-based online electricity marketplace, raised $3.25m in Series A round of funding.
The round was led by Evergy Ventures with participation from Updater, Avesta Fund, Yoav Lurie, John Sherman, and Bill Gatreaux and existing investors Fort Ventures, Techstars Ventures and Powerhouse Ventures.
Led by Naman Trivedi, CEO, WattBuy is an online electricity marketplace that empowers consumers to make smart decisions about their electricity costs by allowing them to browse and select plans in their area
The Series A funding round follows the launch of a calculator to estimate the electricity cost and carbon footprint impact for nearly every home in the United States. This calculator incorporates several open and proprietary data sources to build a machine learning model that takes location, building characteristics, and weather data as inputs, and returns an hourly electricity usage prediction.
The company intends to use the funds to continue to improve its machine learning model.