Today: Jul 20, 2024

Lumian, the energy optimization startup, secures $3.2M in pre-seed funding.

7 months ago

Lumian Energy Inc., a startup specializing in energy optimization, has raised $3.2 million in a pre-seed funding round. The round was led by DOMiNO Ventures and angel investor İsmail Ferhat Özlü, an energy sector expert. Lumian Energy was founded by Turkish entrepreneurs Batu Balkir and Emre Biroi in April 2023 and is now based in the United States. The company aims to help enterprises and large organizations optimize their energy bills by using artificial intelligence algorithms to provide insights into energy provisioning and consumption, energy efficiency, and billing analysis. The startup’s platform analyzes energy consumption patterns and recommends the most optimal business tariff options to help organizations save costs. Lumian’s software can be installed and up and running within five minutes, with no hardware costs involved.

Lumian Energy’s platform offers real-time energy use monitoring, billing analysis, verification, tariff recommendations, regulation notifications, detailed reporting, and custom device tracking for scenarios that involve hardware costs. The company already has a long list of customers in Turkey and Germany, and it plans to expand into global markets, including the United States. Lumian Energy co-founder and CEO Batu Balkir said the pre-seed investment will play a significant role in executing the company’s growth strategy.