Paris-based industrial energy efficiency-focused startup METRON has landed €8 million in funding from BNP Paribas, Financière Fonds Privés, and the existing shareholder Breed Reply. This round brings the total amount raised by METRON to some €12 million.
The METRON-EVA (Energy Virtual Assistant) platform provides real-time mapping of energy flows for factory floors and other industrial facilities, showing the key performance indicators. It also uses AI algorithms to make suggestions as to efficiency improvements.
“METRON has re-shaped the way energy data are used in industries by providing significant energy savings and optimization to its clients,” said Daniel Michel, head of access to finance at EIT Digital, which supported the company earlier through its accelerator. “We have been impressed by their smart solution to connect to the data from the production lines, allowing their AI and machine learning algorithms to run on to. We are extremely proud to have supported METRON in its fundraising.”
The company is active in about ten countries and has six operational centres in Europe, Latin America, the Middle East and Asia. METRON plans to use the funding to open more international offices, as well as bring its engineering and data science team to 100 people.