IvyCap Ventures on Wednesday announced ₹15 crore financing for AI-powered energy analytics firm Bidgely to accelerate their growth plans in India.
Bidgely uses artificial intelligence (AI) to transform utility meter and customer data into business intelligence and for utilities and energy retailers to better engage with customers. Enabling the creation of personalised energy profiles for individual customers, utilities and retailers benefit from targeted marketing and as well as the ability to modernise grid operations. Backed by leading investment firms like Georgian Partners and Khosla Ventures, Bidgely works with over 30 utilities and energy retailers across the globe.
Vikram Gupta, Founder & Managing Partner at IvyCap Ventures said, “We believe that it is time for Indian utility companies to leverage technology and analytics to bring in operational efficiencies and improve customer experience along with upgrading traditional infrastructure. Bidgely’s experienced team and patented technology has brought immense value to its customers in other geographies and we are extremely happy to be working with Founders and existing investors in its scale up journey hereon.”