Turkish Startup Lumian Receives Investment with $3.2 Million Valuation

Turkish Lumian is a startup that reduces costs by increasing the energy efficiency of companies through artificial intelligence analyses. According to the information conveyed, Lumian received pre-seed investment from DOMiNO Ventures and İsmail Ferhat Özlü with a valuation of $ 3.2 million.

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Lumian

The startup was founded by Batu Balkır and Emre Birol in April 2023. Lumian, which moved its headquarters to the USA in a short time, offers companies in-depth insights on energy supply, invoice analysis and energy efficiency through its IoT-based SaaS platform and specially developed artificial intelligence technology. It should be noted that Lumian serves companies such as Pakmaya, Tebplast-Rosti, Polmar, Balorman, Gençler Kablo, Başoğlu Kablo. It is claimed to provide more than four times return on investment to its users in a short time.

Lumian analyses the energy consumption habits of companies. It also offers the most suitable tariff options for businesses. Thus, let's add for the startup that can be integrated with all kinds of industrial devices and Automatic Meter Reading System (OSOS) starting from the energy supply process. Thanks to its SaaS-based and IoT-supported software, it enables facilities to effectively analyse and optimise their energy consumption.

By the way, the software developed by Lumian can be commissioned in less than 5 minutes without any hardware investment costs. An end-to-end energy management service is provided to businesses with features such as instant monitoring of their energy consumption, analysing and verifying their invoices, recommending tariffs, incentive/regulation notifications and reporting. In addition, the software, which has IoT (Internet of Things) capabilities, also provides the opportunity to monitor each device in the focus of each device on a work order basis in case of hardware investment. Lumian continues its services in Turkey and Germany. With the new investment it has received, it aims to increase its sales volume in Turkey and the global market.