Kortrijk, 8 march 2017 For Smappee, the Belgian start-up in smart-energy monitor, 2016 was an excellent year. The business expanded its product range, received various international awards, secured a capital injection of 2.5 million euros, and saw its turnover double for the third year in a row. In 2017, Smappee is planning to take the step from start-up to scale-up: doubling its staff, doubling turnover, and acquiring extra growth capital. The business wants to achieve this by investing internationally and locally in people, product innovation, and new markets and segments.

Meeting market needs

There are many untapped market opportunities for Smappee, according to Stefan Grosjean, CEO and founder of the business: “Across the globe, people are thinking increasingly consciously about how they consume energy. There are three reasons for this. Firstly, people are concerned about rising energy prices. Secondly, the emergence of the IoT and the Connected Home provides more opportunities for energy management. Finally, climate change is driving a transition to renewable energy. Smappee is a response to all of this and can play a central role in the energy-efficient, smart homes of the future.” The business is therefore looking forward to opening new hubs in Silicon Valley or Singapore to keep its finger on the pulse of the market there and to be local to its clients.

Investing in innovation and 30 extra people

To support its growth plans, Smappee is going to invest heavily in new employees and product innovation in the coming year. The start-up wants to hire at least 30 people, meaning staff numbers will more than double. Most of these new employees will work in the head office in Kortrijk in the R&D, sales, marketing and helpdesk departments. Smappee also has big plans for products: “Recently we have integrated SolarCoins, improved system recognition and launched the gas and water monitor - making Smappee the first app to combine gas, water, solar and electricity. We will continue to refine our existing products and will also release some new products. In addition, we are working on a significant expansion of our services, including premium services, and are collaborating with other IoT producers and service providers,” adds Stefan Grosjean.

International recognition

Last year, Smappee gained lots of national and international recognition. The energy monitor and app won the Trends Business Tour Awards, Energy App Award and the Energy Globe Award. Today, the smart energy monitors are available in 85 countries worldwide. Furthermore, Smappee users produced 5,110 MWh of solar energy last year, and after the release of SolarCoin in October earned 5110 SolarCoins.