measurable.energy, a Reading, UK-based technology company that designs and manufactures smart, machine learning enabled power sockets, raised £4.5M in Series A funding.
The round was led by RO Capital Partners, Clean Growth Fund, Vectr7 Investment Partners LLP, and MMC Ventures. They joined Bonheur ASA.
The company intends to use the funds to accelerate growth and expand operations.
Founded in 2018 and led by Dan Williams, CEO, measurable.energy provides a solution designed to eliminate ‘Small Power’ waste, that is energy not required by devices that are plugged in or directly wired, such as printers, AV equipment, chilled/hot water taps, monitors, and heaters, which are often left fully on or in standby mode overnight. The company combines its smart sockets with machine learning and software. The sockets automatically identify a device that is plugged in, monitor the device’s energy use, report granular real-time data, and can automatically turn the device off and on to avoid wasted energy.
Customers include Kier Group, University of Reading, and Reading Borough Council.
FinSMEs
11/01/2023