About Optiwatt

Optiwatt is a smart charging platform that automatically schedules electric vehicle (EV) charging based on real-time electricity rates, optimizing for cost savings and environmental impact. By connecting to utility accounts, it enables users to reduce their EV charging costs by up to 70%, averaging $388 in annual savings while tracking home energy usage.

```xml <problem> Electric vehicle (EV) owners often lack an efficient way to optimize charging schedules based on fluctuating electricity rates, leading to higher energy costs and potentially increased environmental impact. Existing EV charging solutions may not fully integrate with utility rate plans or provide the flexibility to align charging with periods of lower grid emissions. </problem> <solution> Optiwatt is a smart charging platform that automates EV charging by connecting to utility accounts and leveraging real-time electricity rates. The platform enables users to reduce charging costs by automatically scheduling charging sessions during off-peak hours when rates are lowest. Optiwatt integrates with various EV brands and supports time-of-use, tiered, and real-time energy plans, providing flexibility and convenience. By optimizing charging schedules, Optiwatt helps users save money, reduce their carbon footprint, and track home energy usage. </solution> <features> - Real-time tracking and forecasting of electricity rates to optimize charging times - Automated integration with utility accounts to access accurate rate information - Customizable charging schedules with flexible "Ready By" times for each day of the week - Smart charging options to optimize for cost savings or reduced emissions - Battery preconditioning feature to warm the battery pack before departure, improving performance in cold weather - Support for multiple EV brands and models, allowing users to manage all their vehicles under one account - Home energy usage tracking to monitor and manage overall energy consumption - Integration with smart thermostats for further cost savings </features> <target_audience> Optiwatt primarily targets electric vehicle owners seeking to minimize charging costs, reduce their environmental impact, and efficiently manage their home energy consumption. </target_audience> <revenue_model> Optiwatt partners with electric companies, who share a portion of their savings from reduced peak-load demand, allowing Optiwatt to offer its services to users for free. </revenue_model> ```

What does Optiwatt do?

When was Optiwatt founded?

Optiwatt was founded in 2020.

How much funding has Optiwatt raised?

Optiwatt has raised 7000000.

Founded

2020

Funding

7000000

Employees

35 employees

Major Investors

Navitas Capital

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Optiwatt

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Executive Summary

getoptiwatt.com 7K+

Crunchbase

Founded 2020

Funding

Estimated Funding

$5M+

Major Investors

Navitas Capital

Team (30+)

No team information available.

Company Description

Problem

Electric vehicle (EV) owners often lack an efficient way to optimize charging schedules based on fluctuating electricity rates, leading to higher energy costs and potentially increased environmental impact. Existing EV charging solutions may not fully integrate with utility rate plans or provide the flexibility to align charging with periods of lower grid emissions.

Solution

Optiwatt is a smart charging platform that automates EV charging by connecting to utility accounts and leveraging real-time electricity rates. The platform enables users to reduce charging costs by automatically scheduling charging sessions during off-peak hours when rates are lowest. Optiwatt integrates with various EV brands and supports time-of-use, tiered, and real-time energy plans, providing flexibility and convenience. By optimizing charging schedules, Optiwatt helps users save money, reduce their carbon footprint, and track home energy usage.

Features

Real-time tracking and forecasting of electricity rates to optimize charging times

Automated integration with utility accounts to access accurate rate information

Customizable charging schedules with flexible "Ready By" times for each day of the week

Smart charging options to optimize for cost savings or reduced emissions

Battery preconditioning feature to warm the battery pack before departure, improving performance in cold weather

Support for multiple EV brands and models, allowing users to manage all their vehicles under one account

Home energy usage tracking to monitor and manage overall energy consumption

Integration with smart thermostats for further cost savings

Target Audience

Optiwatt primarily targets electric vehicle owners seeking to minimize charging costs, reduce their environmental impact, and efficiently manage their home energy consumption.

Revenue Model

Optiwatt partners with electric companies, who share a portion of their savings from reduced peak-load demand, allowing Optiwatt to offer its services to users for free.