Panoramic Power, a Kfar Saba, Israel-based early stage company developing a cloud-hosted, real-time energy monitoring platform and service, has raised $4.5m in funding.
The round was co-led by Israel Cleantech Ventures (ICV) and Greylock Partners, with participation from Clal Energy, and existing investors Qualcomm Ventures (via QPrize), the Israel Electric Company (Karat Program) and Alexander Schneider.
This investment brings the total amount raised by the company to date to $6m.
Panoramic Power intends to use the funds to accelerate its development, production and business expansion efforts.
In conjunction with the funding, ICV Partner Meir Ukeles, is joining the company’s Board of Directors, along with Dr. Noam Gressel, a Partner at Greylock Partners.
Co-founded by CEO Dr. David Almagor and CTO Adi Shamir, the company provides an Energy Management System (EMS) that is designed to enable enterprises and organizations to acquire complete visibility and reduce their operational and energy expenses.