US-Israel Companies Partner to Take Renewable Energy Microgrids Into the AI and Machine Learning Age
The commercialization project marks the international collaboration between Introspective Systems and Brightmerge to advance the performance of microgrids.
Introspective Systems, LLC announced that it has finalized its contract with the Binational Research and Development Foundation (BIRD US-Israel Foundation) to begin a commercialization project with its Israel-based partner, Brightmerge. The companies will leverage their areas of expertise to create an end to end AI-based data solution for Microgrid design, development, and operations.
"The process of developing microgrids can be costly. It begins with a feasibility study reaching hundreds of thousands of dollars, even before any design, procurement, and installation," said CEO Kay Aikin. "Moreover, those feasibility studies are filled with disclaimers and closing the gaps of uncertainty is crucial. Microgrid designs are unique and therefore it is difficult to scale-up the process of those studies without the use of technology."
Daniel Schwab, Founder and CEO of Brightmerge, stated "After spending almost 20 years in the renewable energy industry, it has been clear to me that microgrids are the architecture of the future energy system."
"Brightmerge and Introspective Systems have the industry knowledge and technological know-how to provide seamless solutions that bring entire economies into the digital age of energy," Schwab said.
Elkana Pressler, Co-Founder, and VP of Business Development for Brightmerge, said, "The electricity grid served humanity for over 100 years distributing energy during the fossil fuel era; this era is decaying fast. Transferring energy hundreds of miles from production to consumers is no longer the most financially efficient solution. The current electric transmission system is super expensive to build, operate, maintain and lately, to protect. Microgrids utilize the capability to create the energy wherever it is consumed. It might be a community, a campus, commercial center or even residential facilities."
Keith Lehman, Co-founder and CTO of Brightmerge, believes that's where both companies come in.
"This is exactly where Brightmerge enters the picture. We realize that with the right set of data, machine learning process and AI we can automate most of the feasibility stage and can significantly reduce costs during design," Lehman said.
Brightmerge currently has several premium, paid pilots with large clients that understand the potential of the microgrid revolution. These clients wish to move now instead of waiting and keep losing money.
The project is expected to reach alpha stage of development by Q2 2020 with first production versions ready at the beginning of 2021.
About Introspective Systems, LLC
Introspective Systems is the developer of xGraph, a breakthrough software platform that enables developers to build systems designed for complex software ecosystems, xGraph combines edge computing with distributed analytics to speed processing time. xGraph is AI-enabled for systems that require autonomous and collaborative decision-making to meet the challenges of complexity in environments including healthcare, IoT, energy, and science.
Brightmerge develops an online cloud-based expert system that accurately predicts a microgrid system's energy and financial performance. The platform integrates data sets in one platform and automates decision making using ranking and optimization algorithms to choose the best components, suppliers, and contractors for each project. The company opened a fund round to complete the product and drive first sales.
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Investment led by Battery Ventures will fuel continued rapid expansion and new products in response to strong market demand.
Matillion, the leading provider of data transformation software for cloud data warehouses (CDWs), announced a $35 million round of funding.
The investment will allow Matillion to capitalize on its leading category position while continuing to deliver accelerated growth, and extend the capabilities of its flagship product line, Matillion ETL. Battery Ventures led the round, bringing Matillion's total funding to-date to $60 million. Existing investors, Sapphire Ventures and Scale Venture Partners also participated.
Continued strong demand for Matillion's data transformation software, purpose-built for the cloud, led the company to deliver triple-digit revenue growth in 2018 for the third consecutive year. The new investment, based on Matillion's sustained success, accelerates the company's expansion both within and well beyond its native-built solutions for CDWs.
"It's our view that every company in the world needs to compete using data," said Matthew Scullion, CEO at Matillion. "And most of the time they'll do this in the cloud. Only the cloud offers the speed, agility, power, and economics to cope with this demand for data insights, and to manage the exponentially growing data volumes and complexities that we work with today. As the leader in purpose-built data transformation software for cloud data warehouses, Matillion is perfectly positioned to help our customers compete and win using data. That's why we're so excited to raise this round, partner with the great team at Battery Ventures, and to once again accelerate our business and the development of our current and future products."
"Matillion has built an innovative, cloud-native, data-middleware product from the ground up, and the company partners with some of the fastest-growing cloud-data warehousing platforms that enterprises are deploying today," said Dharmesh Thakker, general partner at Battery Ventures. "Battery is focused on such cloud-first businesses worldwide - including in Europe - as enterprise IT shifts to the cloud, and the ability to analyze data underpins the digital-transformation process at all companies. We're excited to partner with Matthew and the Matillion team to help drive the next phase of the company's global growth."
"Matillion has established itself as an essential component to the modern enterprise's data analytics tech stack," said Denise Persson, CMO at Snowflake. "Our shared focus on innovation has made us great partners, and this latest investment reinforces Matillion's leadership in cloud-native solutions for data transformation. We're excited to see them continue their growth trajectory as they advance their industry-leading technology to serve our joint customers."
Matillion's software empowers customers to extract data from a wide number of sources, load it into their chosen cloud data warehouse, and transform that data from its siloed source state, into useful, joined together, analytics-ready data - ready to be consumed in analytics, machine learning and artificial intelligence use cases. Purpose-built for the cloud, Matillion does this at scale, delivering fast time to value, high performance with pay-as-you-drink economics - simplicity, speed, scale, and savings.
Matillion's software is used by more than 550 customers across 40 countries, including global companies like Bose, GE, Siemens, Fox and Accenture, as well as high growth, data-centric companies like Vistaprint, Splunk, and Zapier.
Matillion is data transformation for cloud data warehouses. Only Matillion is purpose-built for Amazon Redshift, Snowflake, and Google BigQuery enabling businesses to achieve new levels of simplicity, speed, scale, and savings. Trusted by companies of all sizes to meet their data integration and transformation needs, Matillion products are highly rated across the AWS, GCP and Azure Marketplaces. Dual-headquartered in Manchester, UK and Denver, Colorado, Matillion also has offices in New York City and Seattle. Learn more about how you can unlock the potential of your data with Matillion's cloud-based approach to data transformation. Visit us at www.matillion.com
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, London, Israel and New York.
Visit our website at www.battery.com
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