In its latest funding round, French energy efficiency software developer Metron has won funding from UK-headquartered Breed Reply, an investor in early-stage IoT businesses.
Metron’s energy intelligence platform collects, aggregates and analyzes data on the energy used in industrial processes while interfacing with energy markets and decentralized energy assets, the company said, allowing factory energy use to be optimized in real time.
Using machine learning algorithms and dedicated knowledge bases, the platform “allows companies to be predictive and proactive in energy efficiency to reduce costs and achieve regulatory compliance”, Metron said.
The firm’s current customers include manufacturing companies from energy-intensive industries such as mining, steel, pulp & paper, chemicals, glass, automotive and food & beverage. Metron also partners with facility managers, utilities and OEMs.
As well as funding, Breed Reply plans to work closely with Metron with the aim of accelerating the company’s development to achieve further funding.
Metron CEO Vincent Sciandra said the funding would “support the international growth of Metron and increase our ability to roll-out our highly successful energy intelligence platform.
“Over the last five years, we have helped companies across a variety of industries turn energy efficiency from a static, reactive process into a dynamic, proactive strategy. We are reshaping the way energy data is used.”
And Emanuele Angelidis, Breed Reply CEO, added: “The deployment of smart energy networks that use IoT technology can transform the efficiency of whole industries. Metron’s energy intelligence platform turns energy data into a resource that can reduce costs and proactively manage consumption with suppliers to also meet ever stricter environmental regulations. It is a fantastic example of the benefits of Industrial IoT technology.”