Ecolibrium Energy has raised $2.6 million to expand its energy-saving technology.
The Ahmedabad, India-based company has developed an “internet of things” product called SmartSense to help commercial and industrial firms track and lower energy consumption
Ecolibrium estimates that its 500 clients, which include Coca Cola and Fiat, save up to 15% in energy expenses.
Company spending on IoT technologies is expected to reach $285 billion by 2020; energy, transportation, and manufacturing companies will account for half of that.
