METRON raises €8M Series A funding: 5 strong reasons why French smart energy scaleup is growing rapidly

METRON raises €8M Series A funding: 5 strong reasons why French smart energy scaleup is growing rapidly

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METRON, the French deep tech scaleup which uses artificial intelligence to develop an innovative energy platform for industry, has recently completed a new round of €8 million fundraising.

The fundraising includes commitments from BNP Paribas, Financière Fonds Privés, which enables private investors to invest directly in high potential companies, and existing shareholder, Breed Reply, a leading active operational investor in the early-stage Internet of Things businesses. The funds will enable METRON to accelerate its international growth and the further development of its AI-based energy optimisation solutions.

Vincent Sciandra, CEO and Co-founder of METRON said, “We have seen high levels of customer satisfaction, as customers experience lower than 12 months payback on their investment. I want to thank them for choosing METRON. This capital raise will enable us to change our commercial dimension and to develop our technology. We aim to become a key global player in industrial energy intelligence by 2022.”

The METRON-EVA Factory (Energy Virtual Assistant) platform provides real-time mapping of all energy flows and visual management of energy performance indicators. We take a look at five reasons why the scaleup is snowballing.

#1 METRON-EVA Factory platform

With the help of machine learning algorithms and dedicated knowledge bases, it lets companies identify industrial processes and non-intuitive optimisation levers and support their implementation to achieve expected gains. By interfacing directly with energy markets or decentralised energy assets such as renewable energies, factory operations can be optimised in real time according to production and market context.

#2 Uses Artificial Intelligence

METRON uses Artificial Intelligence (AI)-based energy optimisation solutions. The artificial intelligence engine, which it has developed lets manufacturers effectively reduce their energy consumption and enhance their environmental footprint. With this latest fundraising round, METRON aims to progress into one of the key global players in industrial energy intelligence by the year 2022.

#3 EIT Digital Accelerator alumni

METRON is supported by EIT Digital Accelerator, the leading accelerator which offers customised growth support for the European tech scaleups. METRON is one such scaleups supported by the accelerator and is an alumnus of EIT Digital. Initially, the company was endorsed by EIT Digital Accelerator in initiating and organising the process of fundraising.

#4 Covers all industrial sectors

Founded in 2013 by Vincent Sciandra, METRON will have nearly 100 energy engineers and data scientists to help manufacturers maximise the value from energy data and implement the energy efficiency projects in their production. This scaleup works across industrial sectors such as mining, paper, glass, steel, food and beverages, automotive and chemicals.

#5 Spread in multiple locations

Headquartered in Paris, METRON is active in nearly 10 countries. It has 6 operational centers in Latin America, Asia, the Middle East and Europe. Recently, it opened new subsidiaries in Sao Paulo and Singapore in order to support its key accounts. Further, METRON aims to strengthen its existing international presence in 2019 and also open new offices all over the world.

Stay tuned to Silicon Canals for more updates in the tech startup world.

This article is produced in a collaboration with EIT Digital. Read more about our partnering opportunities.

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