Ndustrial Raises $18.5M Series B to Enhance Its Technology

The company offers solutions to help industrial businesses reduce the energy, emissions and cost associated with production.

Published on May. 15, 2024
Ndustrial Raises $18.5M Series B to Enhance Its Technology
Photo: Shutterstock

Ndustrial announced the initial close of $18.5 million in a Series B funding round, co-led by ABB and GS Energy. The company’s platform integrates energy and production data from various industrial systems to help industrial businesses optimize energy intensity and reduce operating costs. Energy intensity is how much energy, emissions and cost are required for one unit of production.

Serving customers in industries spanning manufacturing, oil and gas and recycling, Ndustrial’s platform provides real-time insights and data-driven decision-making tools to help them decrease energy spend and accelerate decarbonization efforts. Ndustrial counts companies including Lineage, U.S. Cold Storage and W.L. Gore among its customers.

The capital will be used to fuel growth and advance Ndustrial’s AI-powered energy intensity platform. Its partnership with ABB and GS Energy will also allow Ndustrial to expand its offerings to industrial customers through digital integrations.

This article was written by Writer, a generative AI tool, using information from press releases and company blogs provided by our staff. All content was reviewed by a Built In editor and went through a fact-checking process to ensure accuracy. Errors can be reported to our team at [email protected].

Hiring Now
Fintech • Payments • Financial Services