Torino, Italy-based Enerbrain, a startup that turns wasteful buildings into smarter, healthier & more sustainable ones, announced that it has raised €5.2M in a fresh round of funding.
The current round follows the company’s record year, wherein it witnessed its revenues grow by more than 300 per cent year-on-year.
Investors in this round
The round saw participation from EDF Pulse Croissance (the corporate venture capital fund of the EDF Group), IREN (a company operating in the electricity, heat and gas sectors), EQUITER Rif-T and AZIMUT Libera Impresa SGR’s Digitech Fund and GELLIFY.
Speaking on the development, Renato Boero, Chairman of the IREN Group, says, “We have believed in Enerbrain’s potential since 2019 by investing in the company’s capital through the IREN-Up corporate venture capital program. Thanks to this new round of financing, Enerbrain – whose technological solutions have been successfully adopted in energy efficiency projects carried out by the IREN Group – will benefit from further significant support for the company’s national and international growth.”
The investors, both new and existing, will be minority shareholders of Enerbrain, while the Founders, Giuseppe Giordano (CEO), Filippo Ferraris, Marco Martellacci, and Francesca Freyria together continue to maintain their role as primary shareholders.
Funds for expansion and R&D
The raised capital will enable Enerbrain with its ambitious 2021-23 industrial plan aimed at strengthening its international market position, developing new business models, and making R&D investments.
In particular, Enerbrain’s solution, which is using IoT technology supported by artificial intelligence, will aim at embracing new applications in the field of energy transition and air quality.
Intelligent algorithm that helps to reduce energy usage
Founded in 2015, Enerbrain turns wasteful buildings into smarter, healthier and more sustainable ones with an innovative IoT energy retrofit solution. The company’s solution measures comfort and air quality parameters – such as humidity, temperature, CO2 and pollutants – and optimises them in real time.
The Enerbrain technology, which is compatible with all HVAC systems, provides the application of plug & play sensors in the building and a device to regulate in real time ventilation, heating and cooling based on the reference parameters. It includes outdoor and indoor temperature, relative humidity, CO2, and occupants in the building connected with powerful algorithms.
Enerbrain’s solution helps its clients to cut down on their energy related costs as well as boost their CO2 emission reduction targets, while achieving ESG goals relating to sustainability and digital transformation – also further aligning with the requirements of the Green New Deal.
Giuseppe Giordano, CEO of Enerbrain, says, “Our technology and solutions are ideal for everyone, especially for utilities that can leverage our one-stop-shop energy saving platform to both increase their margins and make crucial predictions on energy consumption, optimally managing demand. Our offering is transversally suited to delivering energy efficiency savings in small public schools, large airports, shopping malls, supermarkets, offices, industries and manufacturing plants.”
Currently, the company provides its solutions in 13 markets, and has 3 offices located in Europe and Asia. Enerbrain has numerous partnerships with companies and large players operating in various sectors including energy, food and retail industry, hospitals, schools, airports, museums, offices, municipalities (City of Turin).
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