Reading-based tech company, measurable.energy, has secured a £4 million investment in its AI-powered plug sockets. These smart devices tackle a hidden energy guzzler – “phantom power” from gadgets left on standby in offices.
measurable.energy’s tech combines clever hardware and AI software to identify and eliminate wasted electricity from these always-on devices. The company estimates that plug power makes up 40% of a typical office’s electricity use, with half of that being wasted, so its solution aims to slash energy bills and carbon emissions for businesses by up to 50%.
This fresh injection of cash will fuel measurable.energy’s growth plans in the UK and expansion overseas, particularly in Southeast Asia., as it gears up for a Series B fundraising round in 2025.
The funding comes from a co-leadership by Vertex Exploratory Fund, an investment arm of Vertex Holdings, alongside existing investor Clean Growth Fund, a specialist UK clean tech VC firm.
Dan Williams, co-founder and chief executive of measurable.energy, commented: “This investment reflects the confidence in our proven AI-powered technology, which has already made a real impact for businesses across the UK. 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.”
Image credit: measurable.energy
