PHOENIX CONTACT Innovation Ventures and existing shareholders back smartB in its latest financing round
Berlin-based provider of an innovative smart energy management platform expects to boost market penetration and growth installed base supported by established industrial partners.
Blomberg, Germany – Phoenix Contact Innovation Ventures announces its participation in a new financing round of smartB GmbH, a Berlin-based smart energy management and monitoring system provider. smartB became the fourth investment of Phoenix Contact Innovation Ventures and the first this year. With the new funds and the support of established industrial partners, smartB expects to increase its installed base, expand to new verticals, and continue its growth course.
Founded in 2014, smartB has developed a unique software technology, which combined with own developed smart metering equipment, aims to reinvent energy management. Hence, smartB’s energy management system uses proprietary hardware and software technology to source, analyze and visualize energy consumption in commercial buildings in real time. The highly scalable platform analyzes the sourced data and recognizes energy consumption patterns of individual devices by using proprietary machine learning algorithms and non-intrusive load monitoring technology. smartB technology improves energy efficiency of commercial buildings, generating a financial benefit for its customers and contributing indirectly to the environment.
Energy Management & Monitoring is gaining more importance not only in the home or commercial sector but also in the industrial segment, due to the tremendous energy savings potential. For that reason, reliable energy management systems are required in order to manage complexity and leverage such savings potential.
Phoenix Contact Innovation Ventures closed this financing round in a syndicate together with existing shareholders. With immediate effect, Phoenix Contact will support the further activities of smartB in order to lift the company to its next level of development.
For more information please contact:
PHOENIX CONTACT Innovation Ventures
32825 Blomberg, Germany
Tel.: +49 5235 341423
Fax: +49 5235 343888
About PHOENIX CONTACT Innovation Ventures GmbH
PHOENIX CONTACT Innovation Ventures is the global corporate venture capital company of the PHOENIX CONTACT Group, a global manufacturer and supplier of components and systems for electrical connection and industrial automation technology. The venture capital company invests in startups with business models that are related to electrical connection technology, industrial digitization, automation and control technology, and associated markets.