UK cleantech startup measurable.energy, which provides machine learning-powered plug sockets that reduce energy waste, lower electricity costs, and minimize carbon emissions, has secured £4 million. The funding round was co-led by Vertex Exploratory Fund and Clean Growth Fund.
- Founded in 2018 by Dan Williams and Josh Eadie, measurable.energy develops smart plug sockets equipped with proprietary hardware and AI-driven software to combat the energy drain from small devices left plugged in but not in use.
- The startup's technology targets the significant energy waste in offices, where plug power accounts for up to 40% of total electricity usage, and eliminates up to 50% of wasted electricity, reducing both energy costs and carbon emissions for companies.
- The company focuses primarily on the construction and commercial real estate sectors but is seeing increasing demand from the public sector, hospitality, university campuses, and NHS hospitals. Their innovative solution helps businesses and institutions become more energy-efficient while supporting sustainability goals.
- Since its last funding round, the company’s revenues have more than tripled and it has secured major commercial agreements with prominent partners, including Balfour Beatty Vinci, Morgan Sindall, and PKF Francis Clark.
Details of the deal
- The fresh funding round was co-led by Vertex Exploratory Fund, a captive fund under Vertex Holdings that invests in early-stage technologies challenging the status quo and reshaping the future, and Clean Growth Fund, a UK cleantech venture capital firm.
“The combination of its advanced hardware and AI software represents a significant leap forward in energy management technology. In today’s tech-driven world, where every watt of energy saved can contribute to a more sustainable future, measurable.energy is leading the charge with its technology," Investment Partner at Clean Growth Fund, Jonathan Tudor, commented.
- The investment also saw support from existing investors Bonheur ASA/Fred Olsen, The RO Group, Vectr7, and Roger Ferguson, a former economic adviser to President Obama and ex-Vice-Chair of the US Federal Reserve. Since joining as an investor in 2023, Mr. Ferguson has been helping measurable.energy expand into the US market.
- With the fresh capital raised, measurable.energy plans to accelerate its growth in the UK and international markets, particularly in Southeast Asia, the USA, and Europe. The funds will also support technology development and enhance marketing efforts to increase market share across various sectors.
" As we look to the future, we are excited to build on this momentum and pursue our ambitious goals to enhance energy efficiency on a global scale. This is an exciting time for our team, and we’re ready to lead the change in energy management," claims Dan Williams, co-founder and CEO of measurable.energy.
