Startup Wise Guys invests in Turkish solution for energy management Lumian Energy

Estonian accelerator and fund Startup Wise Guys has invested in Turkish AI-powered startup Lumian Energy, which provides energy management solutions.

In total, the startup secured $400K from Turkey's DOMiNO Ventures, Istanbul-based investment company StartupFon, and angel investor İsmail Ferhat Özlü in the pre-seed round.

Based in Istanbul and founded in 2023 by Batu Balkır, Emre Birol and Levent Şahiner, Lumian Energy developed an IoT-based platform that collects real-time data, visualizes it on graphs and analyzes energy data using artificial technology. The startup provides customers with real-time energy consumption tracking, invoice analysis, bill verification, tariff recommendations, incentive/regulation notifications, forecasts,
anomaly detection, and reporting. Lumian's platform can be integrated with any OSOS (Automatic Meter Reading System) so that the customers do not need any additional hardware to track and analyze electricity and natural gas consumption.

The startup works with more than 60 customers in more than 1,250 facilities. Lumian Energy will use the investment to further research its product, develop solutions, and accelerate growth.

Launched in 2012, Estonian Startup Wise Guys is an accelerator that invests in early-stage startups from the Baltic, Central European, and African
regions. Startup Wise Guys typically invests up to €500K per startup through multiple funds that manage €45M and are backed by more than 150 investors. The CEO of Startup Wise Guys is Cristobal Alonso.