Energyworx, a Houten, The Netherlands and Houston, Texas, USA-based provider of an Energy Data Management platform for utility companies to navigate and monetize the energy transition, raised €1m in Series A extension funding.
The round was led by EDP Ventures, the venture capital arm of EDP. The investment by EDP Ventures supports a strategic partnership between EDP and Energyworx to accelerate Industry 4.0 adoption within the utility sector.
The company intends to use the funds to scale development and accelerate international growth within the US and European markets.
Led by Marcel E. Smit, CEO, and Pieter Ennes, Chief Technology Officer, Energyworx provides SaaS-based Intelligent Meter Data Management SaaS solutions for utility companies to monetize their volumes of diverse data that come with the roll-out of the smart meter.
The platform powers a variety of cloud-based, utility specific applications to understand and predict customer consumption patterns.