SingTel Innov8, the corporate venturing division of Singapore-based conglomerate Singapore Telecommunications, has acquired a stake in energy management software company Sentilla. Singtel paid $4.5m for a 23.4% stake.
Sentilla had previously raised $7.5m in series B funding, in January 2009, from the US-based venture capital (VC) firms Claremont Creek Ventures and Onset Ventures. Both also contributed to Sentilla’s October 2006 series A round, which raised $3.85m when Sentilla was known as Moteiv.
Sentilla’s flagship product, Sentilla Energy Manager, works by analysing every piece of equipment at the data centre, tracking energy consumption in real time and allowing staff to better manage power consumption.
The deal will see Sentilla join a wide ranging stable of companies within Singtel’s portfolio. In recent months Singtel has invested in, among others, the group buying platform Dealised, the near-field communication software company Vivotech and game developer and investor Yetizen.