QiO Technology, an Industry 4.0 company focused on Foresight Sustainability Suite, has recently completed a Series B funding round. WAVE Equity Partners, a reputable impact investment company based in Boston, USA, provided the funding, which amounted to $10 million.
The raised funding will be utilized to expand QiO Technology’s business in the USA and Europe. The company also plans to enhance its Foresight Sustainability Suite and strengthen its capabilities. In addition, QiO Technologies aims to increase its customer base in sectors that are encountering significant difficulties in achieving net zero GHG emissions.
Founded in 2015, QiO Technology is the first Industry 4.0 company established by a team of industrial engineers that has a primary objective to facilitate the transition to a zero-carbon economy. QiO Technologies' Foresight Sustainability Suite gathers information from various industrial assets, including kilns, furnaces, compressors, boilers, cooling systems, and data center servers. The AI-powered suite then analyses the data and suggests real-time measures to enhance energy efficiency and optimize resource utilization. By making use of this suite, clients can quickly reduce their greenhouse gas emissions, energy consumption, production costs, and waste.
“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”
- one of the founders and Chairman of QiO Technologies, Rick Haythornthwaite
QiO Technologies has partnered with Intel to develop a new product, called Foresight Optima DC+, which is specifically designed to cater to the energy requirements of data centers. The product is aimed at optimizing individual servers in data centers by monitoring their energy consumption and making real-time adjustments. Since its launch, Foresight Optima DC+ has helped to reduce energy consumption and cut emissions by 20-30% in data centers all around the world.