UK – QiO Technologies, a Farnborough, UK-based AI sustainability tech startup which supports energy-intensive businesses, raised $10M in Series B funding.
The round was led by Wave Equity Partners.The company intends to use the funds to expand its operations in USA and Europe, enhance the capabilities of its Foresight Sustainability Suite, and accelerate customer acquisition in sectors which face the challenges in achieving net zero GHG emissions.Led by Rick Haythornthwaite, Chairman, QIO Technologies is an Industrial IoT AI software products company delivering a sustainability suite to reduce greenhouse gas emissions, improve resource efficiency, and accelerate operational sustainability for companies, in sectors ranging from automotive, steel, glass, cement, oil & gas, data centers and telecoms. QiO’s Foresight Sustainability Suite™ operates by collecting data from industrial assets ranging from kilns, furnaces, boilers and compressors to cooling systems and data center servers. Using AI, the product identifies and implements real-time actions that optimize energy efficiency and resource use, helping customers make rapid reductions in GHG emissions, energy use, production costs and waste. With businesses under pressure to meet international sustainability reporting standards, Foresight Sustainability Suite™ also automates real-time ESG reporting, enabling every customer to track and report Scope 1 and Scope 2 emissions. QiO’s newest product, Foresight Optima DC+™, was developed in partnership with Intel to meet the needs of energy-intensive data centers, which consume around 3% of the world’s electricity and produce about 2% of total GHG emissions. 16/02/2023
