xWatts, a London-based intelligent energy management platform, has secured £1.6 million in seed funding, led by Cambridge Enterprise Ventures, alongside Cambridge Angels, Parkwalk, and R42. This highlights the urgent demand for solutions that directly cut energy waste in the most resource-hungry estates across Europe.
With revenues tripling annually over the past two years, the new capital will accelerate product development and expansion across Europe, especially in healthcare, higher education, and industrial sectors.
Tackles a £550B challenge in non-domestic buildings
Europe’s non-domestic real estate sector represents a £550 billion annual energy market, yet much of that spending is driven by outdated or inefficient systems. xWatts focuses on complex estates with heavy energy loads, such as healthcare, universities, and industry, forming a £53 billion core market with clear potential for improvement. By typically unlocking 20% savings, the industry could reduce energy spending by over £10 billion each year.
As demand for real estate decarbonisation intensifies, xWatts is positioning itself as a critical partner for organisations seeking measurable impact rather than incremental improvements.
Instead of acting as a dashboard that only surfaces data, xWatts connects directly to on-site energy systems. It builds real-time digital models of each facility and automatically adjusts assets, including HVAC units, solar arrays, and CHP engines. This hands-on optimisation enables real reductions rather than passive monitoring.
Founders fixing energy waste at the source
xWatts was founded in 2022 by Yigit Akar and Alex Allen, who met during an Antler residency after crossing paths at the University of Cambridge. Yigit previously commissioned large-scale wind and solar plants across Europe and Turkey, bringing deep experience in renewable infrastructure. Alex’s background in computer science and control systems engineering comes from years spent working on major corporate infrastructure and building simulations.
Together, they set out to solve the root problem: large estates often run energy-intensive systems that aren’t coordinated, optimised or responsive. Their combined expertise shapes xWatts’ model, which is to pair engineering discipline with advanced modelling to cut emissions, costs and inefficiencies simultaneously.
What about diversity?
On replying to TFN about diversity, xWatts stated that their team is 30% women, 70% men, 30% Muslims, 10% Hindus, and 70% Christians. Likewise, regarding geographical diversity, it added that 30% are White British, 40% are White Non-British, 10% are from the Middle East, and 20% are British Indians.
Proven impact across hospitals, campuses, and others
The platform has already been deployed across NHS Hospitals, Community Diagnostic Centres, and College facilities at the University of Cambridge, consistently delivering over 25% reductions in energy consumption. In manufacturing settings, xWatts has optimised operations to the point of cutting carbon output while saving more than £2 million annually in energy costs.
These outcomes highlight the company’s distinctive approach, which is direct optimisation across the entire chain from generation to demand. This level of automation dramatically reduces waste, improves comfort inside buildings, and gives operators tighter control without additional manual work.
With non-domestic buildings consuming staggering amounts of power each year, the company positions itself at the intersection of climate impact and cost-efficiency.
Yigit Akar, CEO and Co-Founder of xWatts, comments, “Our mission is straightforward but ambitious: to decarbonise the world’s most complex real estate in a way that is intelligent, automated and scalable. We don’t just tell you what to do, we do it for you. This funding allows us to double down on the growth and product investment needed to compete at scale.”
Christine Martin DPhil, Head of Ventures at Cambridge Enterprise, comments, “xWatts’s AI-driven energy management platform for commercial buildings not only taps into a large market opportunity, but importantly, provides a path to net zero whilst driving meaningful cost reductions for asset owners. Cambridge Enterprise Ventures is proud to support the company as lead investor.”
Anne Dobrée, Investment Director at Parkwalk, comments, “Our investment in xWatts through the University of Cambridge Enterprise Fund reflects our strategy of backing breakthrough technologies emerging from the UK’s leading universities. xWatts’ ability to intelligently optimise complex, energy-intensive estates is already delivering meaningful cost and carbon savings, and we believe the team is exceptionally well placed to scale this impact across Europe.”
