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The Internet of Things (IoT) continues to evolve and grow in terms of several business, applications and products. Considering the present situation, the technology has advanced beyond science fiction status, slowly infiltrating into factories, homes and businesses around the world.
Furthermore, thousands of startups are relying on IoT as their main technologies to launch new products or services & support platform ventures. While a lot is figuring out a successful IoT business model, very few enterprises have found the true business value out of it. One such startup is Torino-based Enerbrain.
Enerbrain – Intelligent algorithm that helps to reduce energy usage
Founded by Alexis Susset in 2015, Enerbrain turns wasteful buildings into smarter, healthier and more sustainable ones with an innovative IoT energy retrofit solution. The company’s solution measures comfort and air quality parameters – such as humidity, temperature, CO2 and pollutants – and optimises them in real time.
Raised €2 million funding
Recently, the company announced the closing of a €2M financing round led by a group of investors including Controlli, Iren, GELLIFY and Boost Heroes. The company will use this fund to boost the startup’s international growth and develop new patents in the energy efficiency sector. Part of the sum was bestowed as a prize for winning the TV contest.
“We are very pleased to have industrial investors with strong energy expertise on board,” Enerbrain CEO and co-founder Giuseppe Giordano says about the investment:
Won the EIT Digital Challenge 2018 under Digital Industry category!
Back in October 2018, Enerbrain won the 1st prize of the EIT Digital Challenge in the category Digital Industry and joined EIT Digital Accelerator to boost international growth. The scale-up was awarded for their technology that improves the financial productivity and comfort of buildings without any major modifications.
For the uninitiated, EIT Digital Accelerator provides tailor-made growth support for European tech scale-ups by helping secure international customers and raise capital.
Plug & play sensors
Since it is compatible with all HVAC systems, Enerbrain system provides the application of plug & play sensors in the building and a device to regulate in real time ventilation, heating and cooling based on the reference parameters. It includes outdoor and indoor temperature, relative humidity, CO2 and occupants in the building connected with powerful algorithms.
Closed several contracts, credit goes to Enerbrain’s algorithm!
Moreover, Enerbrain’s machine learning algorithm allows systems to continuously refine their programming to eliminate any possible waste. In 2019, the company closed several contracts, including one with IREN, one of Italy’s largest multi-utility companies.
Giuseppe Giordano further added, “We feel that our energy saving technology is more and more appreciated, and we are receiving requests from all around the world.”
Reducing CO2 emission by 1,400 tonnes
Together with Enerbrain, IREN will transform 89 Turin City Council buildings into smarter buildings, reducing CO2 emission by 1,400 tonnes which is equivalent to adding 100,000 trees. Notably, it takes two days of installation to cut energy consumption by 30% forever, improving the indoor air quality and thermal comfort.
Stay tuned to Silicon Canals for more updates in the tech startup world.