Impact investment company WAVE Equity Partners invested a $10 million Series B funding round with QiO Technologies, a startup based in London, UK.
QIO Technologies, an industrial IoT AI software solutions firm founded in 2015, offers Foresight Sustainability SuiteTM to help industrial businesses, data centers, and telecom operators cut greenhouse gas emissions, increase resource efficiency, and accelerate operational sustainability.
In industries like automotive, steel, glass, cement, oil & gas, data centers, and telecoms, QiO helps energy-intensive companies quickly cut their greenhouse gas emissions (GHG) and energy expenditures.
“Energy-intensive industries and data centers have a crucial role to play in achieving a low-carbon economy. Our mission is for QiO to be the partner of choice for businesses that want to take decisive action today to accelerate their progress to net zero. With our proven technology, demonstrable track record of delivering energy and GHG emissions savings, and this Series B funding, QiO is well-placed to support energy-intensive businesses as they come under greater scrutiny from customers, investors, regulators, and governments to deliver on net zero targets.”
said Rick Haythornthwaite, Co-Founder and Chairman of QiO Technologies
Foresight Optima DC+TM, the business’s most recent product, was created in collaboration with Intel to fulfill the demands of data centers that use a lot of energy. By evaluating energy usage and modifying individual servers in real-time, Foresight Optima DC+TM has reduced emissions and saved 20–30% of energy in data centers around the world.
With the help of this finance, the company plans to increase its operations in the United States and Europe, develop the Foresight Sustainability SuiteTM’s capabilities, and speed up customer acquisition in industries where reaching net zero GHG emissions is the biggest issue.
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