Nishaant Sangaavi

Nishaant Sangaavi

Founder and CEO, EnergyX

A little bit about EnergyX

EnergyX’s solution automatically finds, targets, and enrolls customers with high savings potential. Program managers get to track the customer journey in real-time via an active dashboard as the solution takes the customer through audits, retrofits, and payments with the software automatically alerting stakeholders when required. Program managers will also get recommendations from the system to design future programs.

The decision to join L-SPARK

L-SPARK is one of the leading SaaS accelerators in Canada. L-SPARK came highly recommended to help us with creating a business model. They provided us with great 1 on 1 mentorship so that we could accelerate our business.

Learn more about our SaaS Accelerator

September 2018

EnergyX raised seed funding of 1.7M led by Globalive Capital.

October 2018

EnergyX joins L-SPARK’s 4th SaaS Accelerator cohort.


EnergyX secured an additional $500k in January 2019 as well as an additional $500k in July 2019.

The $1 million round was a seed extension, which was intended to extend the company’s runway through the COVID-19 pandemic.

August 2020

EnergyX raised $1 million CAD, bringing the company’s total funding to $5 million in August 2020.

The financing round was led by BDC Capital’s Growth and Transition Capital division. The funding will be used to accelerate EnergyX’s expansion into the US.

December 2020

EnergyX won RFP with 5 of the largest utilities in North America where their platform is used across the states of MA, CN, NH and RI for over 1 million small business customers.

The team also landed their first European customer in this same month.