Luxembourg-based venture capital fund GGM Venture Capital has invested though its sub-fund GGM High Growth IT Fund into Optimitive. The round was led by GGM Venture Capital and joined by SURGE Accelerator. Optimitive graduated from the SURGE Accelerator program in May 2013.
Today, GGM Venture Capital (www.ggm.lu) the Luxembourg-based venture capital fund investing in early stage European technology-driven companies, announced it has invested though its sub-fund GGM High Growth IT Fund, a total of €1.40m series A investment into Optimitive (www.optimitive.com). The round was led by GGM Venture Capital and joined by SURGE Accelerator. Optimitive graduated from the SURGE Accelerator program in May 2013.
Founded in Spain in 2008, Optimitive provides a unique real time energy saving service through its sophisticated software and services that allows large industrial companies to permanently and significantly reduce energy or raw material input costs and to lower CO2 emissions.
The capital raised will be used to accelerate the company’s vision and commercially roll-out across regions and sectors. The money will be specifically used for marketing and sales. In addition, the company will continue expanding its technology and services to meet the needs of its growing, global customer base at a time when rising energy prices keep companies needing to remain competitive and search for energy savings.
Javier A. Garcia Sedano, CEO at Optimitive commented: “We are delighted to have found a like-minded partner that is committed to helping us financially and strategically grow our business. Today, we are taking our most significant step yet toward realizing our goals. This landmark financing reinforces our position as the frontrunner in the commercial energy saving market.”
Guillermo G. Morales López, Chairman of GGM Capital, added: “Energy efficiency is going through the most significant disruption for a generation. Businesses are increasingly looking to transform and eliminate the causes of energy wastage. The obstacles of out dated processes mean this is a growing market opportunity. We are delighted to invest in making the vision of Optimitive Group real and help thousands of companies around the world become energy efficient.”
Today, substantial amounts of energy in industry and commerce are lost due to inefficient processes – this can be avoided. With Optimitive, the platform continuously searches for savings potential and provides real-time adjustments to address the causes of the energy loss.
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GGM High Growth IT Fund
Notes to Editors
About GGM’s High Growth IT Fund
GGM’s High Growth IT Fund, falling under the umbrella of GGM Venture Capital S.C.A., SICAR, is a €30.0m Venture Capital Fund managed from Luxembourg and established to achieve medium-term capital appreciation through a portfolio of minority investments in international early-stage technology-enabled companies.
Further detailed information about the GGM IT High Growth Fund and other activities performed by GGM Capital is available on their corporate website: www.ggm.lu.
About GGM Capital
GGM Capital, a Luxembourg-based advisory and asset management firm, offers a unique platform of investment banking services. The investment division is specialized in identifying and investing in Private Equity opportunities. The capital markets division offers a sophisticated sales and trading services to listed companies. On top, GGM Capital provides mergers & acquisitions, private placement and strategic advisory services to business owners and investors.
GGM Capital believes that its unique vision of combining corporate finance services and investment capability under one roof creates an unparalleled value proposition for our clients, investors and business partners.
OPTIMITIVE was created in 2008 as a spin-off from TECNALIA, one of Europe’s leading Applied Research Centers. It has developed software, based on a large experience with Artificial Intelligence, to achieve energy savings and efficiency improvements in industrial processes, which typically translates into tens of thousands to millions of Euros. Savings also cover the service cost, requiring no investment by the customer. Today, industrial processes work largely with routine settings, repeated over and over again. OPTIMITIVE focuses on dynamic and real-time optimization instead. The company’s core product, the OPTIBAT® ENERGY SAVER, is connected to the process control systems and makes adjustments in reaction to changing conditions (such as raw material, atmosphere or production rate). Adjustments are made in a trustable and safe way, achieving the maximum possible energy efficiency without sacrificing output or quality. OPTIMITIVE sells OPTIBAT® as an Energy Efficiency Service.
About SURGE Accelerator
SURGE Accelerator is the leading seed fund and mentor-driven accelerator that identifies, invests in, and enables entrepreneurs who are solving the world’s energy and water problems using technology. SURGE already ranks amongst the world’s elite accelerators. In its first two years, SURGE companies raised $20M in funding, landed over 75 enterprise customers, and created more than 100 jobs. SURGE has recruited over 150 of the world’s top scientists, engineers, executives, entrepreneurs, venture capitalists, and angel investors in the energy, cleantech, cleanweb, and water industries to serve as mentors. Based in Houston, Texas, “The Energy Capital of the World”, SURGE runs an intensive 90 day bootcamp in the Spring to identify leaders, validate business models, raise capital, and connect companies to customers and the global energy ecosystem.