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Lumian’s energy platform raises $3.2M for energy optimisation

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Lumian, the energy platform founded by Turkish entrepreneurs Batu Balkır and Emre Birol in April 2023, has successfully secured $3.2 million in its inaugural funding round. The company swiftly relocated its headquarters to the United States, emphasizing its global ambitions.

Lumian’s innovative approach revolves around an Internet of Things (IoT)-based Software as a Service (SaaS) platform that integrates artificial intelligence (AI) to offer profound insights into energy provisioning, bill analysis, and energy efficiency. The platform analyzes the energy consumption patterns of businesses, providing tailored recommendations for optimal business tariff options. Lumian stands out by seamlessly integrating with various industrial devices and Automated Meter Reading Systems (AMRS), facilitating efficient energy consumption analysis and optimization through its SaaS and IoT-powered software.

Notably, Lumian’s software boasts a quick setup time of less than five minutes, with no additional hardware costs. The platform provides a suite of comprehensive energy management services, including real-time energy usage monitoring, billing analysis, verification, tariff recommendations, regulation notifications, and detailed reporting.

Lumian’s clientele already includes prominent Turkish companies such as Pakmaya, Tebplast-Rosti, Polmar, Balorman, Gençler Kablo, and Başoğlu Kablo. Operating in both Turkey and Germany, Lumian intends to expand its market presence globally with the recent injection of funds from DOMiNO Ventures and energy sector expert İsmail Ferhat Özlü.

Batu Balkır, Co-founder of Lumian, expressed the significance of the strategic pre-seed investment in executing the company’s growth strategies. He highlighted the versatility of Lumian’s energy efficiency solutions, applicable across a wide range of applications, from industrial facilities to commercial organizations, with the potential to make substantial contributions to sustainability.

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