Tech start-up Grid Edge has closed a new £2 million funding round.
The Birmingham-based firm has agreed finance deals with Aston University, BP Ventures and Goldacre.
Grid Edge was founded in 2017 by three members of the university's Energy Research Institute - Tom Anderson, Dan Wright and Jim Scott - and works with building operators to lower carbon footprints, reduce energy costs and maximise comfort for tenants and visitors by utilising artificial intelligence.
It counts Hammerson, co-owner and manager of Birmingham's Bullring and Grand Central shopping centres, and the Royal Opera House in London among its clients and this new funding will enable it to reach more customers, develop new products and recruit new staff members.
Mr Anderson said: "This funding round further strengthens our collaboration with BP Ventures, Goldacre and Aston University which have shown equal ambitions in accelerating the growth of Grid Edge.
"Optimising energy demand to reach net zero is now an essential requirement for businesses.
"We are proud to provide many leading companies with predictive AI technology to reduce energy consumption and save money."
Neil Scott, chief operating officer at Aston University, added: "This is wonderful news for all parties involved and is further testament to the work being done at Grid Edge.
"I look forward to continuing my work within Aston University and the Grid Edge board in working towards a net-zero world through collaboration and innovation. It is something we are all proud to be part of."
Goldacre's founding partner David Bloom said: "We saw the huge potential in Grid Edge back in 2019 and wanted to help support the business in scaling up and expanding its service delivery.
"Now, more than ever, optimal energy management is an essential demand of businesses and consumers and so, by leveraging smarter digital technologies, we can significantly reduce carbon emissions while making buildings more energy efficient."
Nacho Gimenez, managing partner at BP Ventures, said: "We are delighted to continue to support them as they scale up and help drive forward the energy transition."
