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Energy Management Co LogicLadder Scores Rs. 1.72 Cr In Angel Funding
LogicLadder, an Energy Management Company has received Rs. 1.72 Crores (US$ 275,000) in Angel Funding.
The Gurgaon based company plans to invest the funds received in further developing energy saving technologies as well as bolstering its growth within the relatively nascent market of active energy monitoring. Though this initial funding round is relatively large, the company is confident of raising its ‘Series A’ Funding within the next 8 months itself.
What does LogicLadder offer? Energy Management is a new and emerging concept that takes monitoring of energy usage to the next level. Using sophisticated technologies, these companies are able to accurately record the energy consumption of an establishment, be it a large home or a big company. Automated systems are able to log and record each Watt of energy and are then able to offer tips on how to optimize energy consumption.
As for LogicLadder, the company founded just 3 years back has incorporated a back–end Analysis Platform and shifted the processing ‘in the cloud’. The company’s product line includes EnergyLogicIQ, a cloud based energy management software platform and Energy Intelligence Services. Both these services are able to remotely monitor the energy consumption and later offer detailed statistics as to exactly where and how energy is being consumed. As a part of the deal, the company even offers way to streamline or even reduce energy consumption. This helps organizations keep a close watch on their Energy Bills which are priced at a much higher rate than Residential Consumers
The company has presently set a target of expanding in the Asia Pacific as well as Gulf Cooperation Council (GCC) markets. Additionally, the company is confident of clocking US$ 2.5 Million in revenue in the soon–to–begin Financial Year 2014–15.
Energy Management is the first concrete step towards Energy Conservation. LogicLadder does have a very vast scope since technologies that promote Eco–Living and Energy Saving are coming up very rapidly. Will Indian Companies embrace the concept?
Source | LogicLadder
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Source: http://www.watblog.com/2014/02/06/energy-management-co-logicladder-scores-rs-1-72-cr-in-angel-funding/
