Optiwatt
Connects home electricity rate data with EV battery metrics to show the cost of every charge.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor investor | €0.0 | round | |
* | $7.0m | Series A | |
| Total Funding | 000k | ||
Related Content
Optiwatt is a telematics and software company that provides a free app for electric vehicle owners to reduce their energy costs.
The platform connects to electric vehicles and smart thermostats to optimize energy consumption. By analyzing utility rates, it automatically schedules charging and HVAC usage for the cheapest and cleanest times, typically during off-peak hours. This process helps users lower their electricity bills and reduce their carbon footprint.
The company supports a wide range of electric vehicle brands, including Tesla, Ford, BMW, and Chevrolet. The business model appears to be based on partnerships with utility companies. Optiwatt helps these utilities manage electricity demand on the grid, and in return, can offer rebates and savings to its users. The service is free for individual consumers, suggesting a B2B2C revenue stream where utility partners compensate Optiwatt for its grid-balancing services.
Keywords: EV charging, energy management, smart home, electricity grid, cost savings, carbon footprint, telematics, utility programs, demand response, clean energy