France-based Smart Building & Water Specialist Wit Opens Capital

Published on October 17, 2024

Wit, the energy performance specialist based in Nice, is undergoing a significant transition as it opens its capital to accelerate growth in the smart building and smart water markets. In what can be considered a management buyout (MBO) with added investment acquisition, founder Georges Duffau is passing the torch to CEO Fabienne Gastaud, who now assumes the role of president. Investment firms LT Capital and Bpifrance have joined as major stakeholders, supporting Wit’s ambitious growth plans.

The Cap 2030 project outlines Wit’s strategy to expand in smart building and water management while minimizing environmental impact. The roadmap includes new AI-driven solutions and international expansion into Switzerland, Italy, and Spain. With a target to reach €20M in revenue by 2028, the company is set to leverage the backing of new investors and the commitment of its team under fresh leadership.

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