Plentify will use the capital to push the adoption of its HotBot device.
recently closed a 50% oversubscribed funding round from investors and will use the capital to support adoption of its flagship smart energy device, HotBot. Plentify acknowledges the challenges in South Africa's power supply, including a strained electricity grid, service delivery disruptions, and rising utility costs. It says its residential load management platform addresses the mismatch between energy demand and clean energy supply, offering significant cost savings compared to batteries.
HotBot’s corporate market includes property companies, body corporates, solar and battery companies, utilities, municipalities, and insurers. For consumers, Plentify offers smart technology that connects to electric or solar geysers, allowing users to intelligently control appliances, draw energy at optimal times and cut their electricity bills.
The company offers HotBot on a subscription basis. Consumers are charged a R200 activation fee and R99 per month. The device and service covers access to the hardware, free installation, and a perpetual warranty for as long as a customer subscribes.
Kailas Nair, Plentify’s co-founder and chief growth officer, says in 2024, the company has already deployed over three times as many HotBots as in all of 2023. This growth has come in partnership with companies such as Balwin Properties and solar solutions provider Wetility, who are deploying Plentify technology alongside solar and battery systems to deliver the most affordable clean energy, he adds.
Several investors have backed the company, including Third Sphere, TELUS Pollinator Fund for Good, Susquehanna Foundation and Fireball Capital.
Hotbot Jon Kornik Kailas Nair Solar Smart Energy Load Management Platform
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ZTE, Multimedia University launch six-month programme: Navigating the digital frontier for smart governmentThis collaboration aims to cultivate leaders proficient in harnessing digital technologies for Malaysia's public sector.
Read more »
Bob Group says smart lockers will drive online shopping growth in South AfricaBob Group MD Andy Higgins believes the wide deployment of smart lockers will have a big impact on e-commerce growth.
Read more »
DSG Appliance can be Used in Smart Medical IndustryAfrica's Technology News Leader
Read more »
IFC in R4.5bn climate-smart housing rebate scheme with Absa‘The IFC has never previously partnered with a bank on green finance beyond commercial properties. It's the first time we have the support for end-user finance, or, simplistically, for the customer opting to purchase an eco-friendly property’ – Kamini Ramsamy, head of credit at Absa Home Loans.
Read more »
New smart ID cards and passports for South AfricaHome affairs minister Leon Schreiber explained the refreshed documents would help build more trust among other countries and international organisations.
Read more »
Luxurious Constantia smart home hits market at R42.75mWhat makes it so special? The entire house is fully automated, featuring a Tesla-powered power wall, solar panels, a borehole with a water filtration system, central heating and air-conditioning throughout – all controlled by the Control 4 home automated system.
Read more »