German cleantech startup etalytics, which develops AI-driven IoT and data analytics software to optimize energy systems, helping industries save energy, reduce costs, and cut CO2 emissions, has raised $8 million in a Series A funding. Alstin Capital led the round.
- Founded in 2020 by Dr. Ing. Thomas Weber, Dr. Niklas Panten, and Björn König, etalytics emerged from the "Energy Technologies and Applications in Production" research group at the PTW Institute of TU Darmstadt.
- The company specializes in AI-driven software solutions that optimize energy systems in industrial applications, helping businesses reduce energy consumption, cut costs, and lower CO2 emissions.
- etalytics' product, etaONE®, delivers real-time insights, predictive analytics, and intelligent control strategies to data centers, chemicals, pharmaceuticals, and automotive industries. The company claims that etaONE® can reduce energy costs by up to 50%, driving greater efficiency and sustainability across multiple sectors.
Details of the deal
- Alstin Capital, a Munich-based venture capital firm that focuses on investing in fast-growing B2B software companies at the Seed and Series A stages across Europe, led the Series A round.
“etalytics provided the much-needed solution for sustainable, effective and future-oriented energy management in the industry. We are very proud to accompany and support the experienced etalytics team on this journey," Principal at Alstin Capital, Dr. Andreas Schenk, stated.
- The round also saw support from ebm-papst as co-lead and TF H IV Technologiefonds Hessen GmbH & Co. KG.
- With the fresh €8 million in Series A funding, etalytics will establish a strategic partnership with ebm-papst. The collaboration will center on joint research and development efforts to drive innovation and accelerate the deployment of advanced energy solutions.
- In addition, etalytics will use the funding to accelerate international expansion, scale sales, and customer operations, and enhance etaONE®. This will include adding new features to drive better energy optimization and sustainability across key industries worldwide.
"We are excited to partner with such a strong group of investors and a strategic partner who share our vision for the future of energy management. With these innovations, we look forward to setting new benchmarks in energy efficiency, energy flexibility and energy operation team efficiency and significantly advancing our contributions towards global carbon reduction efforts," claims Dr. Niklas Panten, CEO of etalytics.
