Ecolibrium Energy, a market leader in Energy Analytics, has announced its funding of $2.6 million led by Infuse Ventures, JLL and an angel investor.
A leading provider of Energy Analytics for industrial and commercial enterprises, Ecolibrium Energy currently services more than 500 multinational clients across various sectors such as Engineering, Pharmaceuticals, FMCG, Utilities, et al.
Businesses across the globe have started to use IoT platforms and energy data for data-driven management, which enhances operational and financial efficiency. Ecolibrium’s Energy Analytics Platform – SmartSense, helps users take crucial operational decisions for optimizing Energy costs and asset uptime through proprietary patented predictive maintenance algorithms, saving up to 15% of energy and asset maintenance spends. Across their existing customer base SmartSense manages, 1300 MW of energy and 12000+ equipments with 100+million data points captured daily.
With this fund raise, Ecolibrium Energy will deepen customer engagement and expand to international markets. The company will also increase its focus deep Machine Learning algorithms for electrical equipments.
Speaking on the funding, Chintan Soni, CEO at Ecolibrium Energy said, ‘With the Global IoT Market estimated to be at $110 Billion, and creating an impact of around $14.2 Trillion, Energy and Manufacturing are going to be major drivers in this industry. SmartSense will deliver value to our clients with very specific recommendations to reduce energy losses and avoid downtime of equipments. Our focus is going to be on creating a digital twin of facilities and assets. Through our patented algorithms we will help businesses optimize their cost of operations and capital deployment for electrical assets.’
Vibhor Dhanuka, VP – Investments, Infuse Ventures says, “Ecolibrium is one of our early investments and we are excited to continue supporting the company. It has developed a strong footprint across industries and geographies over the last few years. With the increasing adoption of IoT and analytics for energy management, Ecolibrium is well positioned to strengthen its leadership position. The present fund raise will enable Ecolibrium to further expand its business as well as provide fillip to its new product development efforts, which will enrich its offering to customers.”
Anuj Nangpal, Head – JLL Technology Ventures says, “JLL’s Technology Ventures platform is a dedicated vertical for making investments into real estate technology firms. Our investment in Ecolibrium is perfectly aligned with this Fund’s objectives and fortifies our intent and ability to identify technology outliers in the proptech space. Ecolibrium is at the cutting edge of the technology of energy data, IoT and predictive maintenance, which is an immediate strategic priority for commercial and industrial asset owners. Their technology integrates seamlessness with our Integrated Facility Management platform. We see this as the future of energy management with a huge potential to be exported globally into our client accounts.”
Recently, the company has also been declared one of the winners of the prestigious Ashden Awards – the world’s leading green energy awards. The perfect demonstration of how the power of big data can make a significant difference when it comes to monitoring and optimizing energy use, made them the winner.