Phaidra Raises $25 Million To Improve Energy Efficiency With Reinforcement Learning
Phaidra, company for improving energy efficiency across industries with reinforcement learning, has raised $25 million.
Created on July 19|Last edited on July 19
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With a changing world comes changing expectations for energy efficiency; Companies working in manufacturing, substance development, and even data centers - all of these areas need efficient temperature control across the board to operate effectively.
Temperature control and air conditioning are one of the most expensive uses of electricity and can produce an incredible carbon footprint, but are critical to success in many industries.
Phaidra is a company that understands the importance of energy efficiency, claiming its solution can reduce energy consumption by up to 30%. Their solution leverages the power of cloud-based reinforcement learning to instantly improve energy efficiency while continuing to adapt as it learns the specific needs of any given company's situation.
Who's funding Phaidra and where's the money going?
Phaidra has announced the completion of a Series A funding round for a total of $25 million, led by Starshot Capital with additional participation from Ahren Innovation Capital, Character, Flying Fish Partners, Helena, Mustafa Suleyman, and Section 32.
The money will be going towards the continued growth of the company as they onboard more clients in a variety of industries.
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