measurable.energy banks £4m new investment to accelerate global business expansion
- Vertex Exploratory Fund of Vertex Holdings, a wholly-owned subsidiary of Temasek Holdings, makes its first investment in the UK clean tech sector
- Clean Growth Fund co-leads investment round after making its first investment into measurable.energy in 2023
- measurable.energy’s smart socket technology helps companies reduce their electricity costs and carbon emissions by up to 50%
measurable.energy, the UK tech company that designs and manufactures AI-powered plug sockets that reduce electricity costs and carbon emissions in offices by up to 50%, has secured a £4m Sterling tranche of new investment. The investment will accelerate the company’s rapid business growth in the UK and international markets ahead of its anticipated Series B fundraising in 2025.
The investment round has been co-led by Vertex Exploratory Fund, a fund under Vertex Holdings, alongside existing investor, Clean Growth Fund – the specialist UK clean tech venture capital firm. Vertex Holdings is a wholly-owned subsidiary of Temasek Holdings.
It is the Vertex Exploratory Fund’s first investment in the UK’s clean tech, and Vertex Exploratory Fund will help measurable.energy to expand the company’s presence overseas, in particular within South East Asia.
Other participants in the round include existing investors Bonheur ASA/Fred Olsen, The RO Group, Vectr7 and Roger Ferguson, a former economic adviser to President Barack Obama and a former Vice-Chair of the US Federal Reserve. Mr Ferguson, who sits on the Board of Alphabet Inc., has been a part of measurable.energy’s journey as an investor since 2023 and is supporting the company’s expansion within the US.
measurable.energy offers customers a smart plug socket equipped with proprietary hardware and AI-driven software to tackle the significant energy drain from small devices — those appliances that remain plugged in and running even when they’re not in use. In offices, plug power accounts for up to 40% of total electricity usage and around half of it gets wasted. measurable.energy’s energy efficiency technology eliminates this waste of electricity, helping companies to reduce their energy costs and carbon emissions by up to 50%.
The company’s main business lies within the construction and commercial real estate sectors, with growing demand from the public sector, hospitality, university campuses and NHS hospitals.
Clean Growth Fund made its first investment in measurable.energy in January 2023, alongside The RO Group, Vectr7 Investment Partners LLP, and MMC Ventures Limited. Since then, the company’s revenues have grown more than 10x, secured a series of major commercial agreements including Balfour Beatty Vinci, Morgan Sindall and PKF Francis Clark and strengthened its senior management team: Karen Bach was appointed Chair in June last year, with Dave Wardell joining in October last year as Chief Commercial Officer. Dan Williams, co-founder of measurable.energy, has been CEO since 2018.
Jonathan Tudor, Investment Partner at Clean Growth Fund said:
Shang-Wei Chow, Managing Director, Investment of Vertex Exploratory Fund who will be joining the Board as Director said:
Dan Williams, co-founder and CEO of measurable.energy said:
For further information
measurable.energy (https://measurable.energy/)
Sarah Perry, Content Manager: sarah.perry@measurable.energy
Clean Growth Fund (https://www.cleangrowthfund.com/)
Maya Mhatre, Marketing Manager: maya.mhatre@cleangrowthfund.com
Paul Taylor, Taylor Keogh Communications: 07966 782611/ paul@taylorkeogh.com
Vertex Holdings (https://www.vertexholdings.com/)
Bernice Ong, Communications
Communications@vertexholdings.com