Bidgely (yes, Bijlee) has raised Series B funding worth $16.6 million (~ Rs 108 crore) led by Constellation Technology Ventures, the VC arm of Exelon, with participation from European companies E.ON and RWE, and existing investor Khosla Ventures, reports ET. This will give Bidgely access to 65 million new homes worldwide, and the company will use the funding to expand operations. Bidgely has, so far, raised $24 million. ET adds that Bidgely builds its products in Bangalore, has over 10 customers and embedded those products across 3 million houses in North America, Australia, New Zealand and Europe. On its blog, the company said that it had doubled its team in the last 1.5 years and had over 3 million meters under contract in its first year of commercially available product. The investment will help it to execute faster adoption as against its current 10x pipeline growth year over year. Bidgely added that its investors already had a large number of smart meters deployed, which would be leveraged by its software. Bidgely has 3 products: HomeBeat Web and Mobile, HomeBeat Energy Monitor and HomeBeat Agent. - The web and mobile product lets users understand their energy use and expenses, energy consumption of individual appliances and rank among neighbours. - The monitor allows real time energy tracking of individual appliances using a ZigBee gateway connected to the smart meter, alerts and notifications and appliance energy monitoring. - The Agent claims to let customer support agents identify and resolve high bill disputes, reduce…
