GIC-backed Envision Digital raises US$210m in Series A round led by Sequoia China
Helene Tian
SOFTWARE maker Envision Digital on Tuesday (Jun 7) said it raised US$210 million in its Series A investment round led by Sequoia China, with participation from GIC.
The group expects the investment to accelerate its transition to net-zero through global expansion, further research and development, and exploration of new strategic partnerships, it said in a press statement.
Envision Digital is a provider of artificial intelligence (AI) and Internet of Things software that helps drive the transition to net-zero, with more than 500 customers and partners such as Accenture, Bureau Veritas and Keppel Corporation.
Its proprietary AI of things operating system assists organisations in managing the production of renewable energy and maintaining efficient consumption across their operations, as well as connects and oversees more than 200 million smart devices and 400 gigawatts of energy assets globally.
Chief investment officer of private equity at GIC Choo Yong Cheen noted that a net-zero economy can only be achieved when significant technological advancements can be “scaled up and adopted widely”.
There is “long-term growth potential” for Envision as it offers a full-suite, flexible technological solution that leverages on its expertise in renewables and carbon management, he added.
Envision announced 2 net-zero tech partnerships earlier this year. In January, it partnered with Mott MacDonald to help cities, industrial clusters, transport operators and other customers attain net-zero goals faster and more effectively. It also collaborated with global solar developer Lightsource bp in March to speed up growth and optimisation of solar power.
Copyright SPH Media. All rights reserved.
