PRESS RELEASE: Mysa Smart Thermostats Secures Second Round of Funding To Help Electric Heat Owners Cut Down Their Bills
Brad Pretty, 2 years ago   |    8   |    3 min read   |    9587
Newfoundland-based smart-home tech company Mysa Smart Thermostats are pleased to announce that they have secured a second round of investment to help them deliver their smart thermostats to more homes throughout North America. The investment of over two million dollars comes from a combination of new private financiers and an injection of fresh capital from previous investors. It ensures that Mysa has the capital to develop new products and continue support of their flagship product - a smart thermostat that helps people with electric heating systems like baseboard or fan-forced heaters cut down on their bill by up to 26%. Original investors Killick Capital and Pelorus Ventures have been joined by numerous investors from all across Canada. In addition, Chris Huskilson, former CEO of Halifax-based clean energy innovator Emera has also joined the Board of Directors. When asked about the opportunity, Huskilson notes:

“I am proud to be invested in and joining the board of Empowered Homes, producers of the Mysa Smart Thermostat. This homegrown Atlantic Canadian company will make a real difference to the efficiency and comfort of homes across North America."

Market Growth: Quebec

New Quebec-based investor Nicholas Ponari sums up his interest in joining a rising Canadian green tech company:

"While it was certainly the quality and the functionality of the Mysa thermostats that led me to Empowered Homes, it was by far and large the skillful execution of the management's business strategy and their staggeringly large progress in a short amount of time that made me want to join the family. I don't see it as just an investment, but a partnership. My investment in Empowered Homes represents faith in Canadian Tech, Newfoundland and Labrador (which doesn't get enough credit in the tech space and Canada at large), and a pledge to get behind green tech startups which will be leading the charge in protecting the environment for the next few critical decades to come. I'm incredibly proud to be associated with this company and this group of talented, young leaders and the future is bright for the Green brothers."  

Market Growth: The Pacific Northwest

New B.C. based investor Alex Conconi, President of Conconi Growth Partners, also chimes in on his interest and investment in Mysa:  

"We have been so impressed with the level of scalability and innovation that Mysa has demonstrated under the leadership of the Green brothers. As the only smart-home investment backed by CGP, we couldn't be more excited to be part of the Empowered Homes movement and the work being done to build a more sustainable future for homeownership in Canada."

 

About Mysa and Our Mission

Mysa’s Smart Thermostat is particularly useful for many parts of Canada and the Northern US where electric heating is common. Mysa gives homeowners more control over their electricity bills - and it’s been a roaring success. Controlled from the Mysa smartphone app or smart home assistants like Alexa, Google Home, or Apple HomeKit, Mysa now lives in thousands of homes throughout North America, and as electricity prices are forecasted to rise, the need to cut down on energy bills is more evident than ever as a cold winter begins to take hold. Saving energy was a goal from the start, as CEO Josh Green reflects: “At its most basic level, Mysa is all about energy efficiency and keeping people comfortable. We have built, and will continue to build, advanced heating and control features that push the capability of smart home technology, but they will always focus on helping customers save energy and be comfortable in their homes.” With massive growth in sales and further product development in the pipeline, Mysa is poised to become the leading brand for the energy conscious, smart consumer.  

8 Comments

  1. Ethel OBrien

    I am in the process of installing them in my home now…as part of a pilot project put of on behalf of Nfld & Labrador Hydro Energy Efficiency Program…seems to be a great program…We will see where it takes us…thanks and all the best in the future

    1. Brad Pretty

      Thanks for the support, Ethel!

  2. Gaëtan Trellu

    Just ordered one to test and to integrate with Alexa, if it goes well six more will be ordered.
    Thanks and all the best for 2019.

    1. Brad Pretty

      Thanks so much for the support!

  3. Tim

    I have a question. Will my Mysa thermostat still work if Mysa (god forbid) is no longer in business?

    1. Brad Pretty

      No worries about that 🙂 We’re thriving and growing right now!

    2. Darth

      It’ll work partially. You’ll still be able to manually control it but you won’t be able to use the App, change schedules, settings, add zones, add new ones, integrate with HomeKit or Alexa or Google Home or SmartThings. That’s because all those features depend on a server run by the company and if it goes under so do the servers.

      1. Brad Pretty

        It will still operate as a normal thermostat, and the actual heating tech inside makes it more efficient than a traditional one. But yes, for all the smart features, you’ll need to connect to the internet.

        Luckily, we’re a growing company and we don’t expect to go anywhere but up!

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