Demeter and Emertec back Qualisteo with €2m

The capital injection marks the second round of funding raised by Qualisteo. The company previously secured €600,000 in funding from Emeraud Energy in 2011.

The fresh funding will allow Qualisteo to strengthen its activities in France and internationally.

Company
Founded in 2010 and headquartered in Nice, Qualisteo has developed its smart grid technology, Wattseeker, designed to measure and control energy consumption for its customers.

Qualisteo's Wattseeker system is based on non-intrusive appliance load monitoring (NIALM) technology. The company's NIALM hardware product is installed in a company's building and a corresponding software offering allows clients to supervise power consumption.

The company employs approximately 20 staff and is believed to have recorded turnover of €600,000 in 2012. Clients include McDonald's, EDF, Bosch and GDF Suez.

People
Christophe Robillard is the founder and CEO of Qualisteo. Jean-Philippe Gendre is an investment director at Emertec, while Benjamin Wainstain is an investment director at Demeter.

Advisers
Equity – Brunswick, Philippe Beauregard, Alexandra Pottier (Legal); Avenium, Guillaume Ferré (IP due diligence); PFK, Sylvain Lavagna (Financial due diligence).
Company – Ventury Avocats, Nicolas Ivaldi (Legal).

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• Topics
• Expansion
• France
• Technology
• France
• Demeter Partners