LONDON, April 1 /PRNewswire/ —
The consultancy and climate tech-based sustainability solution has opened a new headquarters in London after raising $5 million in a pre-Series A round of funding to meet growing demand from UK commercial and industrial property owners looking to… strive to achieve net zero carbon targets.
– UK expansion builds on notable success in Asia Pacific, where Ecolibrium's technology has been deployed across 50 million square feet by global brands including Amazon, Fiat, Honeywell, Thomson Reuters, Tata Power and Metro Delhi becomes.
– The $5 million pre-Series A funding round was co-led by Amit Bhatia's Swordfish Investments and Shravin Bharti Mittal's venture capital firm Unbound.
– Launches in the UK today, having already signed its first commercial deal with Integral, property giant JLL's engineering and facilities services business.
Machine learning-based decarbonization platform Ecolibrium today launched its revolutionary sustainability solution in the UK as the race to reduce carbon emissions across the built environment accelerates.
Ecolibrium was founded in 2008 by entrepreneurial brothers Chintan and Harit Soni at the IIM Ahmedabad Center for Innovation, Incubation and Entrepreneurship in India. Ecolibrium provides expert advice and technology-enabled sustainability solutions that enable commercial and industrial property companies to reduce energy consumption and ultimately achieve their net-zero emissions goals.
Ecolibrium is moving its global relocation to London and has raised $5M in a pre-Series A funding round to expand its international presence into the UK. The round was led by Amit Bhatia's Swordfish Investments and Shravin Bharti Mittal's Unbound Venture Capital firm along with several strategic investors.
Launching today in the UK, Ecolibrium has already signed its first commercial contract with Integral, JLL's UK engineering and facilities services company.
The fundraising and UK expansion builds on Ecolibrium's notable success in Asia Pacific, where Ecolibrium's technology is deployed across 50 million square feet by more than 150 companies including Amazon, Fiat, Honeywell, Thomson Reuters , Tata Power and the Delhi Metro. Companies using Ecolibrium's technology have reduced their carbon footprint by 5-15% annually.
Ecolibrium has also strengthened its UK leadership team as it prepares to roll out its green platform across the UK by hiring facilities and asset management veteran Yash Kapila as its new head of commercial real estate. Kapila previously held senior positions at JLL in the APAC and EMEA regions.
Introducing SmartSense
At the heart of the Ecolibrium offering is the sustainability-focused technology product SmartSense, which processes thousands of Internet-of-Things (IoT) data points from across a facility's energy infrastructure.
This information is then run through Ecolibrium's proprietary machine learning algorithms, developed by in-house experts for over 10 years. Clients can visualize the data through a customized interface that provides actionable insights and a roadmap for achieving operational excellence, sustainability goals and healthy buildings.
This connected infrastructure provides a detailed view of a facility's carbon footprint, uncovering inefficiencies and enabling intelligent decision-making, while driving a continuous improvement program to deliver empirical and tangible sustainability and productivity gains.
Prepare for future regulation
High-quality environmental data and proof points offer a clear business advantage in times of increasing legal requirements that require companies to disclose ESG and sustainability performance. Ecolibrium will work closely with its clients to be at the forefront of shaping their ESG governance.
According to Deloitte, 80% of London office stock will need to be modernized by 2030 as a minimum Class B Energy Performance Certificate (EPC) is expected – equivalent to 15 million square feet per year.
Research by the World Economic Forum found that the built environment is responsible for 40% of global energy use and 33% of greenhouse gas emissions. A fifth of the world's top 2,000 companies will adopt net-zero strategies by 2050 or sooner. The key to overcoming this challenge lies in technology. Ecolibrium and other sustainability-focused companies are at the forefront of decarbonization.
Chintan Soni, CEO of Ecolibrium, said: “Our mission is to create balance between people, planet and profit. Our technology addresses each of these goals and leads companies to sustainable prosperity. There is no doubt that the world is facing a climate emergency and we must act now to decarbonize and protect our planet for future generations.
“By leveraging our proprietary machine learning-based technology and deep in-house expertise, Ecolibrium can help commercial and industrial real estate owners achieve their ESG goals as companies recognize the urgent need to take action to reduce emissions reduce and achieve net zero carbon targets in the built environment.
“Our goal is to partner with companies and help them work smarter, make important decisions faster and consume less. By doing this at scale, Ecolibrium will significantly improve the carbon footprint of commercial and industrial facilities around the world."
Expansion in the UK was supported by the Department for International Trade's Global Entrepreneur Programme. The program has been invaluable in establishing Ecolibrium's London headquarters and scaling into the UK market.
In return, Ecolibrium supports the growth of UK innovation, encourages the creation of green jobs and provides tangible economic benefits as part of the country's broader transition to a more sustainable future.
Investment Minister Lord Grimstone said: “Tackling climate change is crucial to our quest for a clean and green future and investment will play an important role in that.
“So I'm excited about Ecolibrium's expansion into the UK. The investment will not only provide a revolutionary sustainability solution to reduce carbon emissions across sectors, but is another sign that the UK is a leading destination for overseas investment, with innovation and expertise in its arsenal."
About Ecolibrium
Ecolibrium is a machine learning-based decarbonization platform that balances people, planet and profit to create sustainable corporate prosperity.
Founded in 2008 by entrepreneurial brothers Chintan and Harit Soni, Ecolibrium provides expert advice and technology-enabled sustainability solutions that enable commercial and industrial property owners to reduce energy consumption and ultimately achieve their net-zero emissions goals.
Ecolibrium's flagship SmartSense is currently used by more than 150 companies including JLL, Amazon, Fiat, Honeywell, Thomson Reuters, Tata Power and Delhi Metro covering over 50 million square meters. SmartSense collects real-time information about assets, operational data and critical metrics using Internet of Things (IoT) technology. This information is then channeled through Ecolibrium's proprietary machine learning algorithms to visualize the data and provide actionable insights that help organizations transform their sustainability goals.
For more information, visit: www.ecolibrium.io
FTI Consulting:
Ecolibrium@fticonsulting.com
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Original content from: Ecolibrium, transmitted by news aktuell
