Lumian, a Wilmington, DE-based IoT-based SaaS platform, has secured $3.2 million in its first-round funding.
The investment was from DOMiNO Ventures and industry expert İsmail Ferhat Özlü aims to support Lumian's international market expansion.
Founded in 2021, DOMiNO Ventures is a venture capital firm based in Amsterdam, Netherlands. The firm seeks to invest in the metaverse, blockchain, artificial intelligence, gaming, robotics, fintech, health tech, agriculture technology, cybersecurity, education technology, energy, and internet of things sectors. The firm focuses on Turkish & European markets.
Lumian Use of Funds
The strategic pre-seed investment will be used for its growth strategies.
Founded by Turkish entrepreneurs Batu Balkır and Emre Birol in April 2023, Lumian is a startup that developed an AI-powered platform that focuses on energy provisioning, bill analysis, and energy efficiency. Lumian analyzes the energy consumption patterns of businesses and provides them with optimal business tariff options through its SaaS and IoT-powered software. The platform is integrated with various industrial devices and Automated Meter Reading Systems (AMRS). Lumian's clients include Turkish businesses such as Pakmaya, Tebplast-Rosti, Polmar, Balorman, Gençler Kablo, and Başoğlu Kablo. Lumian quickly moved its headquarters to the United States.
Company: Lumian, Inc.
Round: Pre-Seed Round
Funding Month: January 2024
Lead Investors: DOMiNO Ventures and Ferhat Özlü
Company Website: https://www.lumian.energy/
Software Category: Energy Management Solutions