Problem

Evoly addresses the costly information gap between utilities and the legacy electric, water, and heating meters they operate. Conventional meters require technicians to visit sites for manual readings, while conventional smart-meter deployments are expensive, difficult to install, and battery-intensive. Evoly’s sources say that more than 65% of utilities still rely on old-generation meters and that manual meter reading costs exceed $5 billion annually in the United States alone; the company says a typical utility can save more than $4 million per year.

The killer use case is utility modernization without a large infrastructure project: remotely reading meters, automating billing, detecting fraud and leaks, managing time-of-use pricing, and seeing grid or consumption data continuously. The company’s origin story is tied to the Covid-era failure of manual reading, when technicians could not access meters to bill households, illustrating the operational and revenue-collection pain Evoly is designed to remove.

Product / Service

Evoly provides smart electric, water, heating, gas, and waste-monitoring infrastructure as a service. Its plug-and-play transmitters attach to existing meters and communicate through LoRa or Amazon Sidewalk, allowing utilities and cities to add remote connectivity without replacing their entire metering estate. The software provides real-time usage data, analytics, forecasting, remote reading, automated billing, fraud detection, dynamic pricing, and—in water applications—leak detection and drought-compliance alerts.

The commercial model is designed to reduce adoption friction: Evoly says its transmitters and waste sensors have no upfront cost, with customers paying for a software subscription. Its adjacent waste product uses fill-level sensors, mapping, alerts, historical data, and route optimization to ensure bins are collected when needed rather than on fixed schedules, reducing avoidable collections, operating costs, litter, and environmental impact.

Market

Evoly competes in smart metering, advanced metering infrastructure, utility IoT, and smart-city resource-management markets. It is a B2B provider serving utilities, cities, and waste operators rather than a consumer energy-management app. The competitive set includes established AMI and grid-intelligence vendors such as Landis+Gyr, as well as newer managed metering-as-a-service providers such as Netmore. Evoly’s differentiation is its claimed five-times-cheaper, easy-to-deploy hardware and its no-upfront-cost, software-subscription model, although the available sources do not identify a direct head-to-head competitor by name.

Evoly was founded in 2021, joined Y Combinator’s Summer 2022 batch, and is described as active. Public traction includes deployments or assistance to eight cities in Europe and North Africa, activity across multiple Texas cities, deployment-test agreements with U.S. utilities, and waste-manager agreements in Switzerland. Forbes reported that its solutions had been adopted in Dallas, Houston, Atlanta, and Geneva and that its seed round was nearing $4 million; Evoly also won CHF 150,000 through Venture Kick in 2022. No public revenue figure or definitive pre-revenue designation appears in the available sources, so the best-supported characterization is an actively commercializing, funded startup with pilots and deployments rather than a company demonstrably still pre-revenue.