Sense, the US-based developer of a home energy use detection system, has completed a $14m series A round co-led by Shell Technology Ventures (STV), a corporate venturing subsidiary of petroleum producer Shell.
The round, co-led with collaborative strategic investment firm Energy Impact Partners, included Capricorn Investment Group, Prelude Ventures, CRV and Bolt.
Founded in 2013 as Sage Devices, Sense has built an energy awareness platform that uses machine learning to give users real-time feedback on energy use by various devices in their homes.
The cash influx was disclosed as the company added an Android app to its iOS version and launched solar compatibility. It raised $2.5m in equity funding in April 2015, according to a regulatory filing.
Geert van de Wouw, STV’s managing director, said: “Data and machine intelligence are becoming an increasingly important part of unlocking value in automation and control of a connected energy platform.
“Sense has developed a leading technology with state of the art disaggregation capabilities leveraging their expertise as pioneers in signal processing. Shell is exploring opportunities to bring Sense’s capabilities to our business and customers.”