France-based energy efficiency technology supplier Metron today secured €10m ($11.3m) in a funding round that included the corporate venturing units of energy utility Statkraft and mobile network operator NTT Docomo.
Statkraft Ventures and NTT Docomo Ventures were joined by Breed Reply, the early-stage investment arm of internet-of-things technology provider Reply, and financial services firm BNP Paribas.
Metron has created a machine learning-powered energy analytics platform that provides industrial operators with the tools to chart, analyse and calculate their energy usage.
The company recently partnered energy utility Dalkia to work on technology that is able to manage the energy and environmental performance of industrial sites. It is also developing additional products to help reduce carbon emissions in virtual power plants.
Metron operates centres in Paris, Milan, Sao Paulo, Mexico City, Bogota, Dubai and Singapore, with plans to move into the Japanese market having partnered NTT.
Takayuki Inagawa, president and chief executive of NTT, said: “The partnership will make the solution commercially available in the Japanese market and will contribute to the new smart energy business of the NTT group.”
In October 2018, Metron raised $9.2m in a series A that featured Breed Reply, BNP Paribas and Financière Fonds Privés. Breed Reply had initially invested undisclosed amount in the company earlier the same year.