Nexant, a US-based provider of energy software and services, has updated its funding after Intel Capital last week disclosed its investment in the company.
Nexant has now raised $43m in the round. Financial investor Oak Investment Partners has joined semiconductor maker Intel’s corporate venturing unit in the round, alongside existing venture capital firms Beacon Group and TeleSoft Partners.
Intel disclosed its investment last week as one of four it had made from its $200m Intel Capital Invest in America Technology Fund launched in February.
Stephen Eichenlaub, managing director of Intel Capital, said: "As global data centre energy consumption soars, utilities are increasingly looking at technologies that could bring about big energy savings to relieve pressure on their grids.
"Nexant’s presence in software and services has given the company an understanding of the issues facing public and private sector participants in the energy industry."
He added that Intel would use Nexant’s relationships in the utility sector with its data centre technologies.