Powerit Holdings, a designer and manufacturer of a technology that automatically shuts off unnecessary energy use in factories and large commercial buildings has raised $7.1 million.
Founded in 2001, Seattle-based Powerit’s technology can predict when energy shutdowns will be needed and alert users in advance.
The investment round was led by venturecapital firms @Ventures and Expansion Capital Partners. Stellar Holdings, an existing investor also participated.
“Demand control and demand response is a really fast-moving market right now,” said Rob Day, partner with @Ventures.
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