Bia is a Colombian energy startup founded by Sebastián Ruales, Leonardo Velásquez and Guillermo Plaza that helps businesses save energy and manage their electricity bills. They provide smart meters that give detailed information about energy use. This helps businesses make smart decisions and reduce their carbon footprint.
The startup recently raised USD $16.5 M in a Series A funding round led by Kaszek, with the participation of investors such as Nazca, Ewa Capital, and WildSur. With over 1,500 clients across 120 municipalities and cities in Colombia, Bia has transformed into a profitable company within just over a year of entering the market.
"At the beginning people had many barriers, because in this industry people did not know that they could change their energy supplier. As we were very small, they were very afraid to change supplier" - Sebastián Ruales, CEO of Bia
Bia competes with traditional energy marketers such as Enel, EPM and Emcali, but also with startups such as Neu Energy, which also has a platform to visualize energy consumption. The company says it is analyzing other markets in Latin America in order to plan its expansion next year.
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