# Renovai

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/renovai

- Industry: Software
- Headquarters: New York, US
- Website: www.renovai.com
- Total disclosed funding: $5M
- Latest round: Seed (Aug 1, 2021)
- Investors on record: 6

## About

Renovai inc is a technology firm focused on sustainable energy solutions that enhance efficiency in residential and commercial environments through innovative smart home systems.Renovai inc, founded in 2019, operates from New York, US, and provides innovative energy efficiency solutions. The company has successfully completed two deals, with the most recent deal occurring on August 1, 2021, when it raised USD 3.7 mn in a Seed round led by Verstra Ventures and Temple & Webster Group, among other investors. The founders, Alon Chelben, Alon Gilady, and Avner Priel, have a background in entrepreneurship and technology.Renovai specializes in innovative solutions aimed at enhancing energy efficiency and sustainability within residential and commercial spaces. The company’s core offerings include a range of smart home systems that integrate seamlessly with existing energy infrastructure, providing users with real-time monitoring and control of energy consumption. These products address the growing demand for renewable energy solutions and help customers reduce their environmental footprint. Renovai serves homeowners, property developers, and commercial building managers across North America and Europe, offering tailored solutions that cater to diverse energy needs.The revenue model for Renovai is centered around direct sales and partnerships with retailers, allowing for broad distribution of its products. Customers engage with the company through direct purchases or subscription plans that provide ongoing software updates and customer support. Through these transactions, clients can access key products, including flagship items known for their innovative technology and user-centric design. Pricing structures accommodate various budgets, ensuring accessibility for a wide range of customers, while partnerships enhance market presence and facilitate the delivery of comprehensive energy solutions across different regions.In August 2021, Renovai inc raised USD 3.7 mn in a Seed round to support the development of new products and to hire additional staff. The company plans to expand its product line with innovative solutions aimed at enhancing energy efficiency, while also targeting new markets in North America and Europe for growth. The recent funding will play a critical role in executing these initiatives, ensuring that Renovai can continue to meet the evolving demands of its customers.

## Funding rounds

- Seed, Aug 1, 2021, $3.7M — Alchemist Accelerator, Citrine Capital Management, Fusion, Verstra Ventures, NGN Partners, Temple & Webster Group
- Seed, Sep 1, 2019, $1.3M — Alchemist Accelerator, Fusion, NGN Partners, Temple & Webster Group

## Investors

- Alchemist Accelerator (https://capitalatlas.ai/funds/alchemist-accelerator) — Seed
- Fusion (https://capitalatlas.ai/funds/fusion) — Seed
- NGN Partners (https://capitalatlas.ai/funds/ngn-partners) — Seed
- Temple & Webster Group — Seed
- Citrine Capital Management — Seed
- Verstra Ventures (https://capitalatlas.ai/funds/verstra-ventures) — Seed