Wattio

Wattio, founded in 2012 by Patxi Echeveste, operated in the home automation sector from its base in San Sebastián, Spain. The company positioned itself as a provider of solutions for managing home comfort, energy consumption, and security. Although the company is now listed as out of business as of May 2023, it had previously secured approximately $2.21 million in funding over two rounds, including a Series A round in December 2014.

The core of Wattio's business was its SmartHome 360º system, a platform designed to give consumers control over their homes via a smartphone, tablet, or a central touchscreen hub called the GATE. This system was built around several key hardware components that communicated with each other and the Wattio cloud service. The product suite included the POD smart plug for remote appliance control, the THERMIC smart thermostat for heating management, and the BAT energy monitor, which was installed in the home's electrical panel to track electricity usage across different circuits. A security solution was also part of the ecosystem, designed to detect movement and send alerts to the user.

Wattio's business model focused on selling this integrated hardware and software package directly to consumers. The value proposition centered on enabling users to reduce energy bills by monitoring and controlling consumption, turning off devices on standby, and scheduling appliance operation. The platform also allowed users to compare their energy usage with similar homes, providing reports and feedback for smarter consumption. Beyond energy savings, the system offered convenience and security features, such as simulating a presence at home to deter intruders. The system integrated with platforms like IFTTT, allowing users to create custom automation workflows connecting their Wattio devices with other online services.

Keywords: home automation, smart home, energy management, IoT, energy efficiency, smart thermostat, smart plug, home security, energy monitoring, consumer electronics, cleantech, venture capital, out of business, Patxi Echeveste, SmartHome 360º, remote appliance control, heating management, electricity consumption, IFTTT integration