Sense, a US-based provider of energy-use tracking technology, has completed a $105m series C round featuring domestic robot producer iRobot, energy and automation technology provider Schneider Electric and telecommunications firm Telus.
Investment firm Blue Earth Capital led the round, which included MCJ Collective, Energy Impact Partners and Prelude Ventures, while Telus participated through corporate venturing vehicle Telus Ventures.
Founded in 2013, Sense has developed software which applies artificial intelligence and machine learning to help users monitor energy use in their homes. It expects the technology to eventually be widely used with autonomous home devices.
The system is already being deployed in Schneider Electric’s Square D Energy Center, a smart panel which can be used to control a variety of home energy devices including solar power systems, electric vehicle chargers and battery-based energy storage systems.
Michael Mahan, Schneider Electric’s senior vice-president of home and distribution for North America, said: “We have seen smart home technology move from a convenience to a practical tool as homeowners prioritise sustainability and resilience in their homes and seek out actionable information around their energy use.
“Working with Sense to integrate energy intelligence into our Square D Energy Center platform allows us to provide homeowners with grid-to-plug insight into their home energy and control of that energy – whether from the grid, solar, battery or other sources – conveniently from their smartphone.”
The funding will support growth in Europe and the Asia Pacific region as Sense looks to expand use of its product by utilities, homebuilders and smart home equipment makers. It said it has now raised almost $157m altogether, including an undisclosed amount from Japan Energy Fund in September 2021.
Sense closed a $30m series B round in 2019 featuring Schneider Electric, smart energy technology provider Landis+Gyr, iRobot and Shell Ventures, a subsidiary of petroleum provider Shell, as well as MacKinnon, Bennett & Co, IDO Investments, Prelude Ventures, Capricorn Investment and Energy Impact Ventures.
Shell Ventures and iRobot subsidiary iRobot Ventures had joined Energy Impact Partners, Capricorn Investment Group, Prelude Ventures, CRV and Bolt in the company’s $15m series A round two years earlier.
Photo courtesy of Sense.
