Invenia Technical Computing Corporation has raised US $5 million in Series A funding led by Zetta Venture Partners.
Zetta Venture Partners is a San Francisco, California based venture firm focused on intelligent enterprise software, currently investing a US $125 million second fund.
Winnipeg, Manitoba based Invenia is the developer of a machine learning platform that optimizes power grids and reduces harmful emissions.
Invenia reduces CO2 and particulate emissions by improving the planning process used to operate the power grid. Invenia’s autonomous machine learning system uses unique data and algorithms to add efficiency to the generation, transmission and delivery of electricity.
“Invenia is applying machine learning techniques in a most impactful way,” said Ash Fontana of Zetta Venture Partners. “The team has carefully built their technology, operations, and culture around a core set of values that reflect our moral imperative to reduce CO2 emissions and pollution.”
Invenia has built a team of researchers from top universities such as Cambridge University in the UK, where it recently opened its second office. Advisors include Zoubin Ghahramani (Cambridge, Chief Scientist of Uber) and Doyne Farmer (Oxford, co-founder of the Prediction Company, acquired by UBS).
“Our partnership with Zetta will help us to continue scaling our contributions to both AI and grid efficiency,” said Matthew Hudson, CEO and co-founder of Invenia. “Invenia’s long-term mission reaches beyond electricity, as we look for ways to apply machine learning to add both economic and social value by reducing waste.”
Private Capital Directory: Zetta Venture Partners
photo credit: Invenia