German startup etalytics has successfully raised €8 million in its latest funding round led by Alstin Capital, with significant contributions from ebm-papst as co-lead and TF H IV Technologiefonds Hessen GmbH & Co. KG. The funding will enable etalytics to expand its AI-powered energy management solutions, accelerate product development, and strengthen its international market reach.
Founded in 2020, etalytics emerged from the “ETA | Energy Technologies and Applications in Production” research group at the PTW Institute of Technical University Darmstadt. According to etalytics, its AI-driven solutions help businesses globally achieve substantial energy savings and reduce their carbon footprint.
Etalytics specialises in AI-driven technology designed to optimise energy consumption, reduce operational costs, and minimise environmental impact. The company’s flagship product, etaONE, provides real-time insights and predictive analytics that aims to help industries, including data centres, chemical, pharmaceutical, and automotive sectors, make informed energy decisions while complying with stringent regulations such as the Energy Efficiency Act for data centres.
According to etalytics, since integrating etaONE, their customers have seen significant (up to 50%) reduction in power consumption for cooling, heating and ventilation systems, which translates into considerable cost savings and reduced carbon footprints. Notable clients include Equinix, Digital Realty, NTT Data, Volkswagen.
Dr Andreas Schenk, Principal at Alstin Capital, expressed enthusiasm for etalytics’ innovative solutions: “etalytics provided the much-needed solution for sustainable, effective and future-oriented energy management in the industry. We were particularly impressed by the fact that the AI – based software analyses all components in an operation and independently adapts to external conditions (temperature, energy prices). It was also crucial for us that the complex reporting requirements of the Energy Efficiency Act for data centres are taken into account. We are very proud to accompany and support the experienced etalytics team on this journey.”
Senior Investment Manager Sebastian Schnell noted: “As a Hessian pioneer in the field of AI-driven energy management, etalytics has impressively demonstrated how efficiency improvements not only lead to significant cost savings for companies, but are also a decisive lever for achieving climate targets. Since our investment in fiscal year 2022, we have been thrilled to see how etalytics’ outstanding management team has successfully driven the company forward. We are delighted to now also invest with our technology fund TF H IV and to continue this path together with etalytics and the co – investors Alstin Capital and ebm-papst.”
The funding round also marked the beginning of a strategic partnership with ebm-papst, a leader in energy-efficient ventilation and drive technology. This collaboration will focus on joint research and development initiatives, combining ebm-papst’s expertise in fan technology with etalytics’ AI systems to reduce energy consumption and greenhouse gas emissions.
Read the orginal article: https://www.eu-startups.com/2024/11/hessen-based-etalytics-secures-funding-to-advance-ai-driven-energy-management/
