NEW ORLEANS, LA, Fluence Analytics has raised a Series A-1 funding round.
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Fluence Analytics, a startup that provides combined hardware and software analytics solutions to polymer manufacturers, today announced it has raised a Series A-1 funding round. The financing includes participation from existing investor Energy Innovation Capital (EIC) and new investor Diamond Edge Ventures, Inc., the U.S. venture capital arm of Mitsubishi Chemical Holdings Corporation established in 2018.
Fluence Analytics will use the new funds to support its paid proof of performance trials, expand sales activities, and invest in new hardware and software capabilities.
"We are very excited to add a strategic investor with a shared vision for realtime analytics," said Alex Reed, CEO of Fluence Analytics. "We look forward to the continued deployment of our technology for manufacturing optimization and accelerating R&D for next-generation materials."
As part of the A-1 funding round, Patrick Suel, President of Diamond Edge Ventures and a veteran corporate venture executive, has joined the Fluence Analytics' Board of Directors.
"Diamond Edge Ventures is pleased to partner with Fluence Analytics and enable its growth," noted Patrick Suel. "We expect significant benefits from real-time polymer analytics to improve operational efficiency and product quality while generating long-term insights from these advanced datasets at Mitsubishi Chemical Company."
"We are really encouraged by the market traction that Fluence Analytics is building as evidenced by its work with 20% of the top 20 global chemical manufacturers," said George Coyle, Member of the Fluence Analytics Board of Directors and Managing Partner at EIC.
About Fluence Analytics
Fluence Analytics delivers realtime industrial and laboratory analytics solutions to polymer manufacturers. The realtime data streams that are generated by the company's products provide novel insights into material properties. This enables customers to optimize and control polymerization processes-leading to greater yields, improved product quality, and reduced cycle times. Visit http://www.FluenceAnalytics.com to learn more about the company's solutions for realtime data, realtime optimization.
About Mitsubishi Chemical Holdings Corporation
Mitsubishi Chemical Holdings conducts its corporate activities and businesses world-wide in the domains of Performance Products, Industrial Materials, and Health Care based on the three decision-making criteria of "Sustainability," "Health," and "Comfort." The company will create sustainable corporate value and be a trusted company to its stakeholders by contributing to the sustainable development of people, society, and the Earth. For more information on the company, visit http://www.mitsubishichem-hd.co.jp/english/
About Diamond Edge Ventures
Diamond Edge Ventures, Inc ("DEV")., a wholly-owned subsidiary of Mitsubishi Chemical Holdings Corporation ("MCHC"), was established in July 2018 as the Corporate Venture Capital arm of the Group. DEV's mission is to foster innovation across MCHC's group companies by investing in and partnering with strategic startups. Led by experienced Silicon Valley Venture Capitalists and Entrepreneurs, DEV is building a strong ecosystem built on competence, trust, and added value.
About Energy Innovation Capital
Energy Innovation Capital (EIC) is the premier capital provider for innovators serving the energy industry. EIC provides early and growth-stage funding for visionary entrepreneurs tackling global energy challenges with transformative, market-leading solutions. EIC's team brings more than three decades of experience investing in energy technologies and leverages its industry expertise, networks, and a collaborative approach to help talented entrepreneurs push the boundaries of what's possible and build great companies. For more information, visit http://www.energyinnovationcapital.com.