Sense Labs plans to use the funds to scale its tech and expand internationally. Here are the top-line bullets you need to know.
Sense Labs, a home energy management and measurement technology provider, has raised $105M in a Series D. The round drew participation from Blue Earth Capital, TELUS Ventures, and MCJ Collective, among others.
HOW’S THE COMPANY PERFORMING?
- Massachusetts-based Sense Labs develops and provides electronic devices that analyze household electricity use in real time and identify how to reduce energy costs.
- The AI- and ML-enabled technology works with smart meters from firms like Schneider Electric and Landis+Gyr, and it also integrates with solar panels, generators, and batteries.
- The company was founded in 2013 and is headquartered in Cambridge, Massachusetts.
WHY DOES THE MARKET MATTER?
- The smart homes market is expected to reach a value of $314B by 2027, growing at a CAGR of 25.3%, according to Mordor Intelligence.
- Growing environmental consciousness has led consumers to adopt smart home solutions designed to mitigate the effects of climate change, such as HVAC and energy management systems.
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