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UK-based tech company measurable.energy, known for its AI-powered plug sockets that reduce electricity costs and carbon emissions by up to 50% in offices, has announced the completion of a £4 million investment round. The funding aims to fuel the company’s rapid expansion in both domestic and international markets ahead of its Series B fundraising, anticipated for 2025.
The investment round was co-led by Vertex Exploratory Fund, a subsidiary of Temasek Holdings, and Clean Growth Fund, a UK-based clean tech venture capital firm. This marks Vertex Exploratory Fund’s first investment in the UK’s clean tech sector. With the backing of Vertex, measurable.energy plans to expand its presence, particularly in Southeast Asia.
Additional investors in this round include existing backers Bonheur ASA/Fred Olsen, The RO Group, Vectr7, and Roger Ferguson, a former Vice-Chair of the US Federal Reserve and economic adviser to President Barack Obama. Ferguson, who has supported measurable.energy since 2023, is playing a key role in the company’s U.S. expansion efforts.
AI-Powered Energy Efficiency Solution
Measurable.energy provides customers with a smart plug socket integrated with proprietary hardware and AI-driven software. The technology addresses the energy drain from small devices that often remain plugged in, consuming electricity even when not in use. In office environments, plug power accounts for up to 40% of total electricity consumption, with around half being wasted. The company’s technology helps businesses reduce both energy costs and carbon emissions by up to 50%.
The company’s core business lies within the construction and commercial real estate sectors, with increasing demand from the public sector, hospitality, university campuses, and NHS hospitals.
Rapid Growth and Industry Impact
Since Clean Growth Fund’s first investment in measurable.energy in January 2023, the company has experienced significant growth, with revenues increasing more than tenfold. It has secured major commercial agreements with companies including Balfour Beatty Vinci, Morgan Sindall, and PKF Francis Clark.
In addition, measurable.energy has strengthened its leadership team, with Karen Bach appointed as Chair in June last year and Dave Wardell joining as Chief Commercial Officer in October. Co-founder Dan Williams has served as CEO since 2018.
Jonathan Tudor, Investment Partner at Clean Growth Fund, expressed confidence in measurable.energy’s ability to expand internationally: “With the support of CGF, Vertex, and other investors, the company is well-positioned to secure business in Southeast Asia, the USA, and Europe.”
Future of Energy Management
Shang-Wei Chow, Managing Director of Vertex Exploratory Fund, who will join the Board as a Director, highlighted the company’s potential: “measurable.energy stood out as one of the most promising startups in the UK’s climate tech space. Its low-touch, intuitive solution effectively reduces power waste, positioning the company at the forefront of positive environmental change.”
Dan Williams, co-founder and CEO of measurable.energy, welcomed the new investment, saying: “This investment reflects confidence in our proven AI-powered technology. As we look to the future, we are excited to build on this momentum and pursue our ambitious goals to enhance energy efficiency on a global scale.”
With this latest funding, measurable.energy is poised to lead advancements in energy management, helping businesses reduce their environmental impact while cutting operational costs. |
