# Steama Company

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/steama-company

- Industry: Software
- Headquarters: Manchester, UK
- Website: www.steama.co
- Total disclosed funding: $8M
- Latest round: Series B (Jul 16, 2019)
- Investors on record: 5

## About

Steama Company Limited provides an innovative smart metering platform that enhances electricity sales management for utility providers, mainly targeting markets in Africa.Founded in 2012 in Manchester, UK, Steama Company Limited specializes in smart metering solutions. The company has raised a total of USD 4.40 mn, with its latest funding round being a Series B in November 2024. The most recent deal involved a merger with Shyft Power Solutions, Inc. under undisclosed financial terms. The company's valuation currently stands at USD 7.395 mn.SteamaCo specializes in delivering an interoperable smart metering platform tailored for utility companies, especially in African markets. Their scalable IoT Advanced Metering Infrastructure (AMI) system includes prepaid smart metering solutions, enabling utilities to accurately track energy usage and combat theft, thus enhancing operational efficiency and revenue collection.In the most recent year reported, SteamaCo generated revenue of USD 1,134,483.60 with an EBITDA of USD -754,269.90, indicating ongoing development in its service offerings.Steama Company Limited is poised for growth through the merger with Shyft Power Solutions, which aims to enhance service offerings and address energy crises across Nigeria and Africa. The recent Series B funding will support the expansion of their smart metering solutions and development of new products, with specific plans to enter additional markets in Africa by late 2025.

## Funding rounds

- Series B, Jul 16, 2019, $4.4M — Shell Ventures, Praetura Ventures
- Series A, Dec 21, 2017, $2.7M — Shell Ventures, GReeN Investor Group, Ashden Trust
- Seed, Feb 17, 2016, $0.9M — ClearlySo, GReeN Investor Group, Ashden Trust

## Investors

- ClearlySo — Seed
- GReeN Investor Group (https://capitalatlas.ai/funds/green-investor-group) — Seed, Series A
- Ashden Trust — Seed, Series A
- Shell Ventures (https://capitalatlas.ai/funds/shell-ventures) — Series A, Series B
- Praetura Ventures — Series B