AAA Corporates charge up Innowatts’ series B round

Corporates charge up Innowatts’ series B round

US-based energy analytics software producer Innowatts has received $18.2m in a series B round featuring energy utilities Iberdrola and Evergy as well as oil and gas supplier Shell.

The round was led by investment firm Energy Impact Partners and filled out by venture capital fund Energy and Environment Investment, while Evergy and Shell invested through respective corporate venturing units Evergy Ventures and Shell Ventures.

Founded in 2014, Innowatts provides cloud-based software that measures and analyses energy consumption by processing meter data from more than 21 million customers.

The eUtility platform offers artificial intelligence-equipped applications that help users map energy use patterns, create personalised energy products or services and reduce energy costs.

Shell Technology Ventures led a $6m series A round for Innowatts in 2017, participating alongside Iberdrola Ventures-Perseo, a strategic investment vehicle for Iberdrola, and Energy and Environment Investment.

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