Lumian Secures $3.2M Funding for Innovative Energy Optimization Platform
Lumian, the trailblazing energy optimization startup that recently secured $3.2 million in funding.
Updated: February 7, 2024
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Energy optimization startup Lumian has successfully raised $3.2 million in its Pre-seed funding round, marking a significant milestone for the company. Founded in April 2023 by Turkish entrepreneurs Batu Balkir and Emre Birol, Lumian swiftly shifted its headquarters to the United States, reflecting its ambition for global impact.
Lumian's core offering is an IoT-based Software-as-a-Service (SaaS) platform enriched with artificial intelligence capabilities. This innovative platform delves into energy provisioning, bill analysis, and energy efficiency, catering to the needs of enterprises and large organizations. By integrating IoT and AI, Lumian aims to empower businesses to optimize their energy bills effectively.
The startup's proprietary platform analyzes the energy consumption patterns of customers, utilizing AI algorithms to identify optimal business tariff options and enhance cost savings. Lumian's approach involves seamless integration with various industrial devices and automated meter reading systems, allowing for a comprehensive understanding of energy usage across entire organizations.