Ndustrial Raises $18.5M Series B First Close

Ndustrial, a Raleigh, NC-based provider of a AI-powered energy intensity platform for industry, raised $18.5M in Series B funding.

The round was led by ABB and GS Energy, joining existing partners such as Clean Energy Ventures and ENGIE New Ventures.

The company intends to use the funds to further enhance its growth and accelerate innovation to help industrial companies optimize energy intensity — the amount of energy, emissions and cost required for one unit of production.

Led by Jason Massey Founder and CEO, Ndustrial provides an AI-powered platform that brings together production and energy data from nearly any industrial system to give customers a real-time understanding of energy intensity. The company’s dashboard enables real-time insights for specific facilities and production lines, helping global industrial sites make better decisions and directly avoid over $100M in energy spend in the past decade. It integrates more than 60 data sources to enable active load management behind the meter, optimize production, and enable next-generation carbon intensity measurement and verification.

Customers include W.L. Gore (makers of GORE-TEX), Novonesis, and US Cold Storage, among others.

Commenting on the news, Jason Massey said: “Ndustrial’s production-aware technology empowers industrial leaders to finally wrap their arms around their data in real-time, understand the relationships between production cycles and energy use, report Scope 3 emissions and take action immediately. ABB and GS Energy are ideal partners to scale our business to help more industrial companies reduce costs and decarbonize faster.”