Be Wireless Solutions (BWS), a leading Tunisian player in the Internet of Things (IoT) sector, specializing in resource-saving solutions, has successfully concluded a significant funding round, raising €1.5 million ($1.6M). This substantial investment is set to reshape the landscape of IoT technology in Europe and beyond.
Smart Capital and Capsa Capital Partners, two prominent investment firms committed to driving innovation, have taken the lead in this funding effort. Their strategic investments underscore their confidence in BWS’s vision and its potential to revolutionize IoT applications.
BWS’s journey has been marked by remarkable growth, boasting an impressive 200% increase in the number of connected devices over the past few years. This expansion highlights the growing demand for IoT solutions that optimize resource usage.
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At the core of BWS’s success lies its innovative platform, empowering clients to track and monitor resource-saving efforts. Catering to a diverse range of clients, including private and public entities, as well as communities, the platform facilitates efficient management of resources such as electricity, water, fuel, and gas. Moreover, BWS actively aligns itself with global energy efficiency initiatives, striving to reduce carbon footprints and enhance eco-indicators.
Karim Kharrat, co-founder and CEO of BWS, expressed his enthusiasm for the recent funding round. He noted that these funds would be primarily dedicated to executing the company’s go-to-market strategy in its priority markets. Additionally, there is a strong focus on further enhancing the company’s artificial intelligence framework. BWS aims to launch its commercial operations in Europe by the end of 2023, marking a significant milestone in its journey.
Established in 2018, Be Wireless Solutions has rapidly become a trusted partner for numerous private and public institutions across Europe, including France and Switzerland, as well as in Africa, with a presence in Tunisia, Morocco, and Senegal. The company’s reach extends to the Middle East, with a footprint in Qatar. BWS’s platform offers a comprehensive suite of solutions, including intelligent public lighting, energy consumption monitoring, smart irrigation, route optimization, and fuel consumption management in vehicle fleets. The startup obtained IoT license in 2017 and the Tunisian startup label in 2019.
Innovatech, a fund launched in 2022 by Smart Capital, is dedicated to supporting innovative and growth-oriented SMEs. With a target size of 125 million Tunisian Dinar (MDT), the fund aims to build a portfolio of 40 to 50 SMEs in the development phase. Investors can engage with a minimum investment ticket of 1 MDT, and for projects seeking a second round of financing, investments can go up to 7 MDT.
Capsa Capital Partners (CCP), a subsidiary of the respected investment bank CAP BANK, is an asset management company approved by the Capital Markets Authority (CMF). CCP specializes in managing private equity funds for institutional investors. Founded in 2012 by a team of seasoned investment bankers, CCP is dedicated to investing in unlisted companies and managing assets on behalf of third parties. Its primary mission is to provide business leaders with the financial backing and strategic resources necessary to support their growth and succession projects.
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The infusion of €1.5 million into Be Wireless Solutions signals a promising future for IoT innovation and resource optimization. With the support of Smart Capital and Capsa Capital Partners, BWS is poised to lead the charge in reshaping the IoT landscape and driving sustainable resource management across industries and regions.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard