Putting an end to wasted residential energy

Kiona at a glance

Kiona is the leading PropTech platform in Europe, enabling stakeholders to optimize resource efficiency while reducing emissions from buildings through the monitoring, control and optimization of energy usage. Through a flexible, open, independent and user-friendly platform, Kiona integrates and connects all technical systems across brands and years of deployment. The company is market-leading in its core segment and has an unparalleled contractor network in Scandinavia with 200 partners in Norway and Sweden.

Year acquired



PropTech, Energy Transition


EUR 21 m





Investment themes

Tech-Enabled Transformation

Key developments in 2021

The group was formed in 2021 as a result of the merger between IWMAC (Norway) and Egain (Sweden) and an acquisition of Cebyc (Norway), Moldeo (Sweden) and Alpha Eco (Switzerland). They experienced strong double-digit recurring revenue growth while carrying out a significant amount of integration work and improving the organization. Kiona instantly succeeded in crosssales within the four companies across all their offices in seven countries and has increased recurring revenue to above 80%. The company has put a top-notch management team in place and is about to execute on expanding partner sales and scaling the business’ cost base.

Impact dimensions

The challenges we face

Buildings account for ca. 40% of Europe’s energy consumption, and 75% of buildings in the EU are energy inefficient. Today, despite the fast growth of “PropTech”, only a tiny fraction of the 40 million facilities in the world are benefiting from this technology, and already connected buildings suffer from different types of legacy equipment from differing vendors.

What is the outcome?

Kiona’s solutions can connect buildings, give insight into energy usage, and optimize consumption. Property owners and grocery retailers are empowered to operate their assets more sustainably through real-time measurement and management, visualization, analytics, and algorithmic optimization. This results in reduced energy consumption and food waste and lower property overhead costs and emissions.

Who are the stakeholders?

Property owners and tenants benefit from a lower carbon footprint and cost savings through reduced energy use. In addition, energy providers will be under less strain through reduced peak load. The population at large can then be supported by lighter energy infrastructure. Finally, Kiona’s refrigeration control solutions help to avoid food spoilage, for e.g. grocery retailers.

How big is the effect, and does it last?

Kiona connects 55k commercial, residential and public buildings across 11 countries. Customers can save about 12 kWh/m2 per year. For the residential sector, Kiona currently covers 300k apartments in 11 countries, impacting the indoor climate of approximately 800k people. Increasing the installed base generates more data, enabling the solution to become better at optimizing, anticipating, and supporting energy-saving decisions over time.

If Kiona didn’t exist...

Without Kiona or a similar service, property owners and tenants would be forced to bear unnecessary increases in energy consumption, slow progress on sustainability and increased real estate operating costs. 75% of buildings in Europe are currently energy inefficient and since they cannot all be torn down and replaced, retrofitting is an essential part of solving the challenge.

Impact risk: what can go wrong?

Data handled by Kiona is not particularly sensitive, but there are unpredictable threats. Issues can arise in the form of data breaches or system malfunctions. Kiona invests considerable amounts of capital and effort in R&D to counteract this and other risks.

SDG alignments

SDG 11
SDG 13

KPI reporting

Revenue (SEKm)


KWH saved


Buildings using kiona's solutions for energy optimization


Tons CO2E averted

23 128
26 000
26 426