Energiency raises €2.7m from ISAI, Go Capital and West Web Valley for AI to boost industry energy savings

Funds raised by ISAI and Go Capital, with West Web Valley, InnoEnergy, 50 Partners and Energiency’s long-standing banking partners.

Energiency, the leading SaaS provider in energy-efficiency machine learning, is working to step up the use of smart energy technology in industry 4.0. Established in 2013 by Arnaud Legrand and partnered since 2014 by the accelerators 50 Partners and InnoEnergy, Energiency is the first software to harness the computing power of the cloud and artificial intelligence to continually analyse the data from smart meters and identify new ways of saving energy in industry. A number of major European and Asian industrial concerns in the agri-food, chemicals, paper and motor industries are already using Energiency’s technology. This first injection of capital from the leading investors in SaaS (ISAI) and clean-tech companies (Go Capital) will accelerate Energiency’s growth in France and abroad. West Web Valley (making its first investment) and the company’s long-standing shareholders InnoEnergy and 50 Partners are also involved, as are Bpifrance and Energiency’s established banking partners.

Arnaud Legrand, Energiency’s founding CEO, says: “Artificial intelligence is still in its early days, but it has enormous potential when it comes to climate change and energy efficiency. Manufacturers are now investing massively in connected-sensor systems and the Internet of Industrial Things but their data are still hugely underused because they lack the right tools.”

Thierry Vandewalle, a venture partner at ISAI, chips in: “We are firm believers in integrating new technology in industry (industry 4.0). It is an excellent lever for generating new sources of competitiveness without necessarily involving a great deal of investment. Arnaud and his team have convinced us that Energiency’s value proposition is very relevant to this promising market.”

Bertrand Distinguin, a venture partner at Go Capital, agrees: “Energy transition is now a must in industrialised countries. Energiency offers cutting-edge technology to a vast market that is extremely competitive and hard to break in to. This gives it an advantage that will help it achieve strong growth, particularly internationally.”

West Web Valley President Charles Cabillic says: “We are very proud to be making our first investment in Energiency and to be able to bring our human, technological and financial resources to bear in accelerating the growth of this amazing little Breton company.”