Bulgarian proptech company AIoTCloud has secured a new €750,000 investment round led by CleverPine Ventures with participation from Dimitar Dimitrov (CEO of Shelly Group) and Blagoy Stoyanov (CEO of VAS Pro). The startup shared the news in a LinkedIn post.
About AIoTCloud
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Founded in 2022 and based in Sofia, AIoTCloud provides an AI-enabled, data-driven energy management platform which streamlines energy optimization, lowers operating costs, ensures regulatory compliance, and reduces carbon emissions.
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The platform does this by providing real-time monitoring, detailed analytics, and automation tools. Users can track electricity usage per appliance, analyze consumption patterns with heatmaps, automate device control and generate reports.
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Additionally, AIoTCloud’s React Mode enables businesses to respond dynamically to energy fluctuations, while alarms and notifications ensure proactive energy management.
Investment details
The round was led by CleverPine Ventures, a Sofia-based venture capital investment division of CleverPine. The company is a software developer and digital services provider with expertise in strategy, consulting, systems engineering, and operations.
“AIoTCloud is addressing a very pressing matter businesses face today – efficient energy management at a reasonable cost. Their unique approach, blending deep industry knowledge with advanced technology, positions them as a real challenger of the status quo in this rapidly growing space. We are thrilled to support their journey and truly believe in their long-term potential,” said Radoslav Gaydarski, Co-Founder at CleverPine Ventures.
AIoTCloud also received support from angel investors Dimitar Dimitrov and Blagoy Stoyanov, bringing the company’s total valuation to €1 million.
The proptech company intends to use the new funding to enhance its product, enter new markets, and bolster its presence in Europe.
