SINGAPORE, February 8, 2023 /PRNewswire/ — Singapore-based energy technology startup Ampotech raised S$1,775,000 in Pre-Series A funding to continue its international expansion. The funding round was led by Earth Venture Capital (Earth VC), a global climate tech venture fund with Southeast Asia focus. KSL Maritime Ventures, the venture capital arm of The Kuok Maritime Group, participated in the round alongside existing Ampotech investors Silicon Solution Ventures and SEEDS Capital.
“We are looking for strategic investors who are passionate about energy and sustainability, so Earth Venture Capital and KSL Maritime Ventures are ideal partners” said the CEO and Co-Founder of Ampotech William’s Temple.
“Today, we are proud to support Ampotech. Their intellectual, dynamic and dedicated team shares our desire to help buildings become smarter, more sustainable and more positive for the Earth. in energy, which threatens our climate To solve that issue, we have Ampotech as the first of many strong and powerful climate fighters that we will support around the world. Tien Nguyenthe Founding Partner of Earth VC.
Originally a spin-off from an A*STAR and University of Illinois research institute, Ampotech was previously raised S$1,000,000 in seed funding in 2019 to bring artificial intelligence and internet of things enabled building energy management solutions to the market Singapore and India. Ampotech now counts with leading energy companies such as Sunseap[1] as clients. In September, the company won a 2022 ASEAN Energy Award for AI-driven energy audit and management technology, implemented by Keppel District Heating and Cooling Systems[2].
Following Pre-Series A funding, Ampotech plans to open its first international office in the coming months, while bringing its solutions to new industry verticals beyond its base in commercial real estate.
“With the support and resources from Earth VC and KSL Maritime Ventures, we are excited to begin our expansion in Vietnamand to pursue energy management and sustainability opportunities within The Kuok Group’s real estate and marine businesses” said William’s Temple.
Bernard LiewDirector, KSL Maritime Ventures said, “KMV incubates and invests in high-growth startups with purpose and innovative solutions. We are impressed with Ampotech’s vision, capabilities and track record and look forward to Ampotech’s positive impact on optimizing energy management in the maritime industry.”
Ampotech expects to raise its Series A round in 2023 and is in preliminary discussions with potential investors.
About Ampotech
Ampotech is an energy technology company based in Singapore which develops internet of things (IoT) hardware and AI-enabled software to help businesses collect, analyze, and integrate building and machine energy use data for sustainability reporting, benchmarking, automation, and facility management. Ampotech products and software are trusted by industry leaders in the energy and real estate sectors, with thousands of devices deployed in commercial, residential, and industrial buildings. Ampotech is recognized as one of the leading climate technology companies in Southeast Asia, and has won awards for its technology and impact on the built environment sector. For more information, please visit www.ampotech.com.
About Earth Venture Capital
Earth Venture Capital (Earth VC) is a global venture capital firm that invests in climate technology solutions, focusing on Southeast Asia region. The company invests in Seed to Series A startups in Artificial Intelligence, Machine Learning, Robotics, New Materials, New Energy and the Internet of Things that serve the goals of transitioning the renewable energy, abandoning fossil fuels and increasing the level of carbon storage.
About KSL Maritime Ventures
KSL Maritime Ventures is the venture capital unit of the investment holding company of the Kuok family (Singapore) Limited. As a designated co-investment partner of SEEDS Capital, KSL Maritime Ventures pursues sustainable solutions with a focus on renewables, fintech and ship technologies, taking a long-term view of creating new global maritime platforms.
About Silicon Solution Ventures
Silicon Solution Partners (SSP) is an incubator and early stage investor in Singapore through its Silicon Solution Ventures (SSV) fund. SSP’s Founding Partners come from electronics-related industries and have over 300 years of experience working in and executive leadership of multinational and large local businesses from start-up to IPO.
About SEEDS Capital
As the investment arm of Enterprise Singapore, SEEDS Capital enables smart investments in innovation Singapore-based on early-stage startups with strong intellectual content and global market potential. SEEDS Capital adopts a co-investment model, collaborating with institutional investors from around the world. Leveraging its collective expertise and networks, SEEDS Capital helps startups commercialize, realize their business development plans and expand globally. SEEDS Capital focuses its investments on new and strategic sectors that align with national priorities, including Manufacturing, Trade & Connectivity, Human Health & Potential, Urban Solutions & Sustainability, and Smart Nation & Digital Economy.
SOURCE Ampotech Pte Ltd
