GreenSync, a Melbourne, Australia-based technology company driving energy industry transformation in Australia, raised $11.5m in Series B funding.
The round was led by Australian government-owned Clean Energy Finance Corporation (CEFC) through the Clean Energy Innovation Fund (which committed $5 million), and Southern Cross Venture Partners through the Southern Cross Renewable Energy Fund (which committed a further $5 million) with participation from a private fund.
The company intends to use the funds to further develop its energy-tech product suite for the Australian market and to expand its technology offerings to new shores.
Led by Dr. Phil Blythe, Founder and CEO, GreenSync uses smart software control to optimize the use of energy resources in electricity grids, reducing the need for over-investment in energy infrastructure. The proprietary technology platform is used by transmission and distribution companies, as well as large industrial and commercial facilities, and residential and remote precincts.