GRA VentureLab company Urjanet closes Series A financing at $2.2 million
Urganet, an Atlanta-based company that helps large-scale energy consumers manage energy use and environmental impact, has announced the completion of a $2.2 million Series A financing with investments from the GRA Venture Fund, LLC and Imlay Investments Inc.
“This investment round will allow us to provide our innovative technology more quickly to large-scale energy users worldwide,” said Urjanet CEO Sanjoy Malik. “These companies spend hundreds of millions of dollars on electricity and natural gas at multiple, often widespread, locations. They need robust intelligence to contain costs and manage environmental impact.”
Urjanet’s platform, developed in collaboration with researchers at the Georgia Institute of Technology, collects and reconciles energy and environmental data from many sources, allowing businesses to make complex decisions about energy use and cost.
“Urjanet exemplifies the kind of company that the GRA Venture Fund was created to support,” said Fred Cooper, chairman of the Fund’s board of directors. “The Urjanet technology platform, developed in Georgia Tech’s research laboratories, addresses some of the most significant challenges for large energy users in a sophisticated way.”
Sig Mosley, president of Imlay Investments, noted, “Urjanet has already proven the value of its unique solution with Fortune 500 companies and is poised to capture significant share in this rapidly emerging market.”