Resync Technologies secures US$2m in Series A funding from GGV Capital

SOFTWARE startup Resync Technologies has secured US$2 million in Series A funding with global venture company GGV Capital as the sole investor.

The Singapore-based startup provides AI-driven intelligent energy management solutions to smart buildings and systems with multiple sustainable energy sources.

It previously received seed funding from SGInnovate, August One, EntrepreneurFirst and Indonesian infocomm technology solution provider Prasetia Dwidharma. The company is also a recipient of a research grant launched by the Energy Market Authority in collaboration with Enterprise Singapore.

In a Nov 18 press statement, Resync said it intends to use its latest round of funding to innovate and develop more advanced features for its energy cloud platform, noting that cleaner and more efficient energy usage is on the rise.

"With adoption of energy efficiency technology growing exponentially, Resync is well-positioned to drive global digitalisation and enable a more efficient, intelligent and sustainable energy future for all," said chief executive officer Emir Nurov.

Resync also plans to expand business operations further across the region and include the Middle East. It will be strengthening its existing operations in hopes to grow its team in the areas of business development, sales, engineering and research and development.

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GGV Capital's venture partner, Liew Weihan, said the company is "excited to back" Resync as the startup expands across the region.

"Resync's AI-driven approach shows tremendous potential in helping commercial properties optimise across energy sources and get the most value from their spending," said Liew.

Resync's solutions are currently used by more than 150 buildings and 300 megawatt peak of solar assets.

They serve over 20 customers in 7 markets in the Asia-Pacific and have already established partnerships with several organisations, including the Thai Digital Energy Development, Prasetia Dwidharma and Nanyang Technological University.

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