American startup helping companies optimise energy use raises $6 million

American software firm ndustrial has announced a $6 million fundraise that will bolster the reach of their platform and services, which are designed to help solve industrial optimisation challenges within the manufacturing supply chain industry.

The funding round was co-led by the venture arm of utility company ENGIE New Ventures and Boston-based venture capital firm Clean Energy Ventures. Also participating were Orion Energy Systems, Lineage Logistics, and Clean Energy Venture Group.

“This funding will enable us to move our technology into broader market areas and use cases within the industrial segment,” said Jason Massey, Founder and CEO of ndustrial.

“Expanding our footprint will allow more industrial businesses to derive insights from real-time, streaming data, and to apply algorithms to automate efficiencies in energy usage or production applications. This gives our customers a competitive advantage as well as the ability to drive innovation across their sites,” Massey said.

As industrial businesses find ways to extract more value from their digitisation efforts, ndustrial said they are dedicated in helping customers to better access, aggregate, analyse, optimise, and act on data.

The software firm’s technology platform allows companies to gain deeper insights into their business, identify and automate improvements and drive innovation that positively impacts the customer’s bottom line.

One of ndustrial’s customers is cold food storage operator Lineage Logistics, who leveraged ndustrial’s technology across more than 200 of its 350+ facilities in real time and has experienced a significantly less energy spend over the last five years.

“When we decided to invest in ndustrial and join the Board in 2015, they had already helped our site in North Carolina save hundreds of thousands of dollars, and Lineage Logistics had just 30 cold storage warehouses,” said Adam Forste, Co-Founder and Co-Chairman of Lineage Logistics and Co-Founder and Managing Partner of Bay Grove, it’s manager.

Related: Lineage Logistics partners with Turvo to eliminate supply chain barriers

“Today, we are more than 350 sites globally. We’ve been proud to scale our applied sciences and energy efficiency initiatives with the ndustrial team,” Forste said.

The series A funding was announced on Wednesday, 5 May.