US-based energy usage monitoring platform Verdigris has raised $9m in a series A round led by contract manufacturing company Jabil Circuit.
Founder.org Capital, Data Collective, Stanford University’s StartX Fund and assorted angel investors also took part in the round, which included the conversion of $3.5m in convertible debt according to a regulatory filing.
Founded in 2010, Verdigris operates a platform that combines artificial intelligence, sensors and software to monitor the operational and energy efficiency of commercial buildings in real-time and recommend optimisations.
The round was closed in December 2015 but remained undisclosed until last month. As part of the deal, Jabil Circuit will become Verdigris’ manufacturing partner and provide supply chain, logistics and fulfilment services.
David Kipling, vice-president, corporate investments at Jabil Circuit, said: “We investigated the building analytics landscape. We found nothing that compared to the accuracy, granular data and analytics Verdigris has developed.
“Verdigris’s stunning vision for actionable data is a best-in-class example of the potential of internet of things in energy. We are keen to support their impressive team to bring Verdigris to the market and support their ultimate success.”
– This piece was adapted from an article on our sister site, Global University Venturing