Following an introduction at SETsquared’s 2014 Investment Showcase, Bath SETsquared member Green Running has secured £750K investment from Ignite, a social enterprise investment fund backed by Centrica, owners of British Gas.
Founded in 2007, Green Running has developed a technology that uses Artificial Intelligence to help businesses and homes monitor, analyse and manage their energy consumption by providing real time bill breakdown and usage information to an individual appliance level.
Already well established in the commercial market, Green Running has provided their energy monitoring system to the likes of the Crowne Plaza Group, Jaguar Land Rover and Scottish Power Energy Networks.
This new investment will enable the company to focus now on the domestic market, with a full launch anticipated in early 2016. This funding will be used to cherry pick the remaining technical personnel, strengthen the management team and add significant members to the board.
Peter Davies, Chief Technology Officer at Green Running says: “This investment puts us in the position to build the perfect team in order to take our product to the next level of scale required for the release into the domestic market. SETsquared has given us a tremendous amount of support in getting our company investor ready, putting us in the optimum position to secure this investment.”
Amanda Williams, Investment Manager at Ignite, comments: “We firmly believe that energy entrepreneurs have a vital role to play in building a better society. We were excited by the potential of Green Running’s products to enable people in their homes to understand their energy consumption in a simple, cost-effective way. Their vision to help families make savings and lower their carbon footprint strongly aligns with our overarching goal to make a positive social impact on employment, incomes, housing and local communities.”
Find out more about Green Running