Energy intelligence platform startup METRON, that allows users to process and analyze industrial energy usage data and insights, has secured a new $9.2 million in funding.
The round saw participation from various investors including BNP Paribas, Financière Fonds Privés, and existing shareholder, Breed Reply, a leading active operational investor in Internet of Things businesses.
Founded in 2013, the Paris, France-based startup helps manufacturers to maximize value from their energy data and deploy their energy efficiency projects within their production processes.
It does so by offering an energy intelligence platform which collects, aggregates and analyses in real time all types of data generated by industrial systems, while interfacing directly with external data, such as those from energy markets or weather forecasts.
This allows manufacturers to effectively reduce their energy consumption and improve their environmental footprint while entering the era of factory 4.0.
METRON works in all sectors of industrial activities, including mining, steel, paper, glass, chemicals, automotive, food & beverage.
“We have seen high levels of customer satisfaction, as customers experience lower than 12 months payback on their investment. I want to thank them for choosing METRON. This capital raise will enable us to change our commercial dimension and to develop our technology. We aim to become a key global player in industrial energy intelligence by 2022,” Vincent Sciandra, CEO and Co-founder of METRON, said.
The startup will use the new funds to accelerate its international growth, and the further development of its AI-based energy optimization solutions.The startup leverages AI, supported by context-aware Machine Learning and ontologies to provide insight into energy usage and unlock new energy saving opportunities.