Siemens buys French power startup to boost IoT systems

Siemens buys French power startup to boost IoT systems

Business news |
By Nick Flaherty

Wattsense, headquartered in Dardilly, near Lyon, France started in 2017 and already has systems in 22 countries. It had raised €3.6m in funding and will run as a standalone unit to expand the Siemens building products portfolio.

Wattsense hardware and software allows developers to connect a wide range of devices and make them IoT-enabled. Multi-protocol devices can be onboarded easily before being connected to the cloud and operated in a cloud-based IoT  Software as a Service (SaaS) model.

This is key to boosting the adoption of energy management practices in facilities with little or no building management system technology for a wider range of real estate types, including schools, offices, warehouses and retail. 

“Together with Wattsense we will accelerate the adoption of IoT systems in a wider range of buildings, bringing the sustainability, comfort and cost benefits to more people and businesses,” said Henning Sandfort, CEO of Building Products at Siemens Smart Infrastructure. “The SaaS business model and innovative technology stack of Wattsense perfectly complement our growing digital portfolio for our customers. We are excited to welcome the talented Wattsense team on board.” 

Siemens Smart Infrastructure has over 2.3 million devices connected to its cloud platform. The business has more than 150 digital applications and offerings within its portfolio and has committed to doubling its digital revenues from €700 million today to €1.5bn by 2025. 

“Wattsense’s commitment to reducing energy consumption and carbon emissions in the building sector aligns perfectly with Siemens’s vision to create technologies that take society further,” said Louis Vermorel, Founder and CEO of Wattsense. “We are thrilled to join a company with such a rich legacy and innovative culture to scale the reach and impact of our IoT solution.” 

For customers in the European Union, the acquisition of Wattsense also supports businesses in complying with the Energy Performance of Buildings Directive (EPBD), which requires buildings in the tertiary sector to be equipped with control and automation systems that improve energy efficiency and reduce CO2 emissions.

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