Innowatts, a Houston, Texas-based provider of an energy analytics and digital transformation platform for the utility industry, raised $6m in Series A funding.
The round was led by Shell Technology Ventures, with participation from Iberdrola Ventures – Perseo, and Energy & Environment Investment Inc.
The company intends to use the funds to strengthen its global presence and drive product innovation across its energy analytics and digital e-Utility solution suite.
Led by Siddhartha Sachdeva, CEO, Innowatts is an energy technology startup providing the PowerEASE™ platform, which analyzes energy consumption data along with other variables to enable energy providers to:
(a) optimize costs;
(b) build personalized energy products and services for their end-consumers.
The solution is currently deployed across multiple energy markets, processing data from over 12 million energy meters.