Energiency, a French startup developing artificial intelligence solutions for industrial energy performance completed its Series-A round of financing of €4.5 million from Encevo Group – the regional energy leader and key player in Luxembourg’s energy transition – alongside previous shareholders ISAI, Go Capital, West Web Valley, InnoEnergy and 50 Partners.
by: Silicon Luxembourg
featured: Energiency’s team
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Founded in 2013 and operated by a team of 20 employees, Energiency analyzes real time data available in industrial plants to detect and render potential energy / CO2 savings. Energiency’s technology has been rolled out in Europe and Asia by industrial leaders such as ArcelorMittal, Solvay and SKF. This second round of financing will enable it to rapidly double its team, expand its product range and accelerate its international expansion.
“The advent of Industry 4.0 technologies is a unique opportunity for major industrial groups in achieving digital transformation of their core businesses while significantly reducing their climate footprint. Encevo’s support is a real asset to enable Energiency to accelerate and have significant impact globally”, says Arnaud Legrand, CEO and founder of Energiency.
“We are excited to join this team and a group of like-minded investors to lay the foundations for the next phase of Energiency’s growth.”
This Series A round is aimed to further growth and accelerate energy intelligence manufacturing in Europe after its initial seed round of €2.7 million in 2017.
“We are excited to join this team and a group of like-minded investors to lay the foundations for the next phase of Energiency’s growth”, says Claude Seywert, CEO and Nicolas Milerioux, Head of Venture Capital of Encevo. “In our regions, the technological capabilities of Energiency will enable our industrial customers to maximize value from their operations, whilst ensuring overall energy efficiency.”
The article is sponsored by Energiency and reflects only the opinion of the author.