SteamaCo
Financials
Estimates*
| USD | 2014 | 2015 | 2016 | 2018 | 2019 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | - | <1m | <1m | <1m | 1.2m | 3.2m | 3.2m |
| % growth | - | - | 2878 % | - | 32 % | - | - |
| EBITDA | (<1m) | (<1m) | (<1m) | (1.2m) | (<1m) | - | - |
| % EBITDA margin | - | (3119 %) | (220 %) | (134 %) | (66 %) | - | - |
| Profit | (<1m) | (<1m) | (<1m) | (1.2m) | (1.1m) | - | - |
| % profit margin | - | (3165 %) | (197 %) | (132 %) | (93 %) | - | - |
| Date | Investors | Amount | Round |
|---|---|---|---|
* | £640k | Seed | |
N/A | Support Program | ||
€50.0k | Grant | ||
$2.9m | Series A | ||
* | $5.0m | Series B | |
£1.2m | Grant | ||
| Total Funding | €9.4m | ||
Recent News about SteamaCo
EditSteamaCo is a pioneering startup specializing in smart metering technology for the energy sector. Headquartered in Manchester, UK, with a design lab in Kisumu, Kenya, SteamaCo focuses on providing utilities with the tools they need to sell energy efficiently, even in challenging environments. The company's flagship product, Edge 6, is a highly data-efficient smart meter that facilitates seamless connectivity for sales agents, consumers, and technicians. This technology is particularly beneficial in areas with tough landscapes, unreliable infrastructure, and poor connectivity.
SteamaCo operates in the global energy market, serving utilities that supply electricity to both homes and businesses. The company has a strong presence in multiple countries, having sold over 55,000 meters in ten countries. Their clients range from small local utilities to large multinational energy providers.
The business model of SteamaCo revolves around the sale and deployment of its smart metering technology. The company generates revenue through the sale of its Edge 6 meters and associated software solutions, which include features like energy autopilot, connectivity management, payment processing, tariff setting, and loss protection. These features help utilities manage their energy distribution more effectively, reduce losses, and improve payment collection.
SteamaCo has successfully secured significant funding to fuel its growth, including a $5 million Series B round co-led by Shell and Praetura Ventures. The company has also received grants from Innovate UK and Horizon 2020, highlighting its innovative approach to energy management.
In summary, SteamaCo is revolutionizing the way utilities manage and distribute energy, particularly in regions with challenging conditions. By leveraging cutting-edge technology and strategic funding, the company is well-positioned to continue its growth and impact in the global energy market.
Keywords: Smart Metering, Energy Sector, Utilities, Edge 6, Connectivity, Payments, Tariffs, Loss Protection, Global Market, Innovation.