Skyven Technologies, an industrial energy-as-a-service (EaaS) company, has closed an oversubscribed seed funding that totalled $4 million (£2.97m).
The funding round was led by VoLo Earth Ventures, with participation from Global Founders Capital and the SWAN Impact Network, to support Skyven in scaling industrial emissions reductions through investments in software development, project execution, sales and marketing.
Skyven uses artificial intelligence (AI) to identify opportunities to cut fossil fuel consumption and an IoT platform to process real-time operating data for purposes ranging from carbon accounting to risk management.
It works with companies to implement clean thermal energy projects using its technology.
Arun Gupta, Founder and CEO of Skyven Technologies, Inc said: “We know that to make progress on climate change, we have to align financial, operational and environmental goals. To make that happen, we are pioneering an innovative tech-enabled business model where we only succeed if our customers succeed.
“As we continue to see this vision through, we are grateful for our new partners and existing investors who are committed to building a resilient and equitable future.”