Heating and cooling are one of the most significant usages of energy in a household. At the same time most of the current electric heating systems are fairly simple, they don’t take into account factors like thermal capacity or usage patterns of the space, nor weather forecasts. OptiWatti is a fully automated system to optimize the heating that can save up to 50% of the heating costs. At the same time it improves the comfort and control by providing a very user friendly mobile app that makes the control and adjustments of the system a breeze.
OpttiWatti provides a extremely easy to use user interface for both mobile and desktop, that makes the monitoring and controlling of the indoor temperature a breeze.
Prior to Butterfly’s investment OptiWatti had launched the first version of the product generating 40k€ of monthly revenue with very satisfied customer base, filed patent application for core IP and secured growing reseller network in Finland.
“Energy efficiency has major impact into our everyday life. Pressure to find new ways to save energy and balance demand-response is growing. According to EU commission, the market size for demand-response alone in Europe is more than €100 Billion. Our mission is to provide easy and effective solutions to this challenge. We’ve introduced a hassle-free room level heating optimization, which is the most effective way to implement demand-response. Butterfly is a perfect partner for us in addition to financial resources, they’re providing international expertize and energizing support.” (Juha Marjeta, CEO of OptiWatti)
Butterfly invested into OptiWatti because of their great team with plenty of business experience and the product that has an excellent user experience and very promising traction. Furthermore OptiWatti has a significant market opportunity not just in Scandinavia, but also internationally. Butterfly’s investment will be used to scale up the sales in Finland and test the traction internationally.
Properties are one of the most valuable assets sold on a daily basis. Each time a property is sold there’s a need for a floor plan along with the other materials. However the quality of existing materials varies a lot and quite often they’re not even available in digital form. CubiCasa makes it super easy for anyone to transfer their floor plans into appealing high quality form cost efficiently and on top of that they automatically create an approximate 3D model based on the floor plan. User just submits an image of the floor plan, basically any source material will do, even something drawn into napkin. These add tremendous amount of informational value around the transaction. Furthermore there’s numerous other purposes that CubiCasa’s floor plan database can used for, like planning decoration or being used as a source material for building automation services and indoor navigation.
From a napkin into a high quality approximate 3D floor plan in a snap.
Prior to Butterfly’s investment CubiCasa had launched successfully their first product version and honed the delivery process into excellent condition especially for real estate market. They have nearly 10% market share of Finnish real estate agents and their month to month growth ration have been around 15%. Furthermore they have taken their first steps into North-American market.
“We have been doing property visualisations manually for long. Some time ago we found a way to significantly lower the cost of entry level product, i.e. creating basic floor plans and indoor 3D model based on it. There’s definitely huge market for such data, but the right business model is a bit trickier question. That’s where Butterfly fits in very nicely. In addition to bringing in money, their business model expertise is a great asset to us. We also liked their coach-type attitude to co-operation and entrepreneurial spirit. They’re definitely the kind of people any startup team would like to have around.” (Harri Pesola, CEO of CubiCasa)
Butterfly invested into CubiCasa because they can cumulate floor plan data and 3D models extremely efficiently while making money in the process. This provides protection for their business and enables numerous business models, each with multi-billion dollar market opportunity. Furthermore the team has strong entrepreneurial background with plenty of startup experience and good connections to the main market in North America. Butterfly’s investment will be used for testing and validating business models as well as entering to the North American market.