Published: 17.07.2017
We improved our product market fit and launched new website. After making multiple tests in the US, the Middle East and Europe we realised that device detection is an important feature, but it's not Ecoisme's real value. The real Ecoisme's value for our users is giving them an understanding of their energy spendings and how they can save money without putting too much effort, saving up to £300/year.

Below we described detailed functionality of Ecoisme that will have to help you to save electricity and money:

1. We created easy-to-use interfaces which provide you with emotional feedback. No need to think what kWh means for you. No need to ask yourself whether 350 kWh per month is a big number or not. Now Ecoisme app has a character, named Eco. Eco is smiling or upset, depending on how you use energy. You will be able to compare energy consumption with your friends and colleagues, set goals and take part in different community activities.
2. Ecoisme continues to use device detection algorithms focusing on big home appliances that really affect your bills. So, you will receive a breakdown of your utility bill, understanding which devices spend the most energy.

3. We will notify you in case you left your appliances on. It will both, save you money and protect your home from fire. When researching the market, we found out that every day at least one apartment in the UK has fires because of issues with electrical appliances.

4. We will help you to automate your home appliances with smart plugs and switches. For example, the most energy-consuming appliance at my home is a water heater. It's on 24/7. With the smart plug, I can set him to start working before I'm going home from work or when I get up in the morning. But it will be turned off when I'm away from home.

5. We are adding automatic utility switch to our monitors for the UK customers. Since energy monitors will gather energy consumption data, it can find a better energy supplier tariff for you. The switch will be free of charge for our customers. In order to make this switch possible, we have partnered with Energy Helpline.

On our website, we are targeting the UK. Why? The UK has a very developed open energy market with high electricity bills. Since the market is open, it has more than 60 energy suppliers. All of them have different tariffs and prices are varies a lot. More than half of the UK customers are changing tariffs and providers at least once a year. Imagine, it's like switching to a new deal for your cell. After the UK, we will connect other countries with open energy markets to automatic utility switch (country-by-country). So, if you live, for example, in France, don't worry, you will be able to get automatic utility switch in the future.

Despite we are focused on the UK, our sensors are still compatible and will work in North America, EU countries, Latin America, Pacific Asia, Australia and the Middle East.

On October 29th we are launching equity crowdfunding on Syndicate Room. We will place there 30 000 shares, with the price of around £10/each. Our goal is to raise £300 000 within two months. We will use this money to launch the full-scale manufacturing, to deliver the sensors, to build the retail network for the sustainable growth of the company and to continue the improvement of the product.

Soon we will tell you more about the equity crowdfunding campaigns, how we will structure the round with their help and how our campaign is doing.