Latest News | IvyCap Ventures Invests Rs 15 Crore in Bidgely

New Delhi, Mar 24 (PTI) Investment firm IvyCap Ventures on Wednesday announced investment of Rs 15 crore in financing for AI-powered energy analytics leader Bidgely to accelerate their growth plans in India.

Bidgely uses artificial intelligence (AI) techniques to transform utility meters and customer data into business intelligence and for utilities and energy retailers to better understand and engage with customers.

"Bidgely's experienced team and patented technology has brought immense value to its customers in other geographies and we are extremely happy to be working with founders and existing investors in its scale up journey hereon," Vikram Gupta, Founder and Managing Partner at IvyCap Ventures, said in a statement.

Backed by leading investment firms like Georgian Partners and Khosla Ventures, Bidgely works with over 30 utilities and energy retailers across the globe.

"This investment from IvyCap Ventures enables us to further develop our Utility AI platform, including electrification, EV and decarbonization solutions, as well as accelerate growth into new markets around the world,"  Bidgely's Chief Executive Officer Abhay Gupta said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)