Your Source for Venture Capital and Private Equity Financings

Urjanet Raises $2.2M

2011-08-02
Atlanta-based company helps large-scale energy consumers manage energy use and environmental impact.
ATLANTA, GA, Urjanet Inc., 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."

Innovation at Urjanet is supported by the Georgia Research Alliance, the GRA VentureLab commercialization program at Georgia Tech and the National Science Foundation.

About Urjanet
Urjanet offers large companies an automated, accurate and easy-to-use service that helps lower energy costs, reduce carbon footprint and more effectively evaluate long-term energy investments. Urjanet's platform collects, reconciles and analyzes energy and carbon-related data from many different sources, including smart meters. Urjanet's data feed is delivered directly to customer applications and decision-support systems. Founded by a team of veteran entrepreneurs, Atlanta-based Urjanet serves multiple, large blue-chip clients and is becoming a leading provider of energy intelligence to business and industry.

About GRA Venture Fund, LLC
The GRA Venture Fund is a private investment fund created to help finance promising companies that emerge through the Georgia Research Alliance VentureLab commercialization program. The Fund's investors are the State of Georgia, private individuals, corporations and foundations.



(c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about page.
>> Click here for in-depth research on 9,000 startups and 5,000 VC investors


Featured Reading