Baar-Zug, Switzerland, April 27th, 2022
Blue Earth Capital today announced a significant investment into Sense Labs (“Sense”), a Cambridge, Massachusetts based company at the forefront of real-time home energy intelligence. Blue Earth Capital was joined by new investors TELUS Ventures and MCJ Collective, as well as existing shareholders Schneider Electric, Energy Impact Partners, Prelude Ventures and iRobot.
Led by pioneers in machine learning who commercialized voice recognition technology in hundreds of millions of mobile phones, Sense’s mission is to reduce global carbon emissions by making homes smart and more efficient. Sense uses machine learning and AI to provide real-time, engaging consumer applications that give people insights into how energy is used in their homes and will increasingly be used for automation as appliances in the home become connected.
Sense intelligence can run as a software application on Revelo® next generation smart meters from Landis+Gyr or smart electric panels from Schneider Electric, allowing Sense capabilities to be deployed at scale. As home builders and contractors install new electrical panels, and as utilities deploy the next generation of smart meters, this new infrastructure should be smart and future-proofed to adapt to the changes that the transition to electrification and renewables will require over their lifespan. By embedding intelligence as updatable software, these core components of our energy infrastructure can adapt over time and connect to the evolving set of smart devices that consumers are adopting.
The funding allows Sense to accelerate on its path to broad consumer adoption with a partnership ecosystem that includes utilities, home construction, and smart home innovators. Sense will also expand its global footprint, starting in Europe and the Asia Pacific region.
Sense Co-founder & CEO Mike Phillips said, “We founded Sense with the mission to impact climate change, starting with the award-winning Sense Home Energy Monitor for consumers, but we’ve always known that the fastest path to mass market adoption is to get our core technology built into the infrastructure of homes. This funding allows us to work with our key strategic partners to bring Sense intelligence into millions of homes. By making the core systems of homes intelligent, and by engaging consumers, Sense will play a key role in the energy transition and accelerate the drive to greater efficiencies and electrification in homes.”
Kayode Akinola, Global Head of Private Equity Direct Investments at Blue Earth Capital, said: “As the market leader in home energy consumption data and analytics, we believe Sense is well positioned to drive significant energy efficiency, increase flexible energy demand, improve grid edge visibility, and reduce carbon emissions. We look forward to supporting Mike and the Sense team to scale their operations.”
Sense’s mission is to reduce global carbon emissions by making homes smarter and efficient. We empower people to care for their homes and families while contributing to a cleaner, more resilient future. Founded in 2013 by pioneers in speech recognition, Sense uses machine learning technology to provide real-time insights on device behavior, even for those devices that are not “smart.” Customers rely on Sense for a wide range of uses including monitoring their home appliances, determining whether they left appliances running and identifying how to reduce their energy costs. Sense has received investments from two of the world’s largest energy technology companies, Schneider Electric and Landis + Gyr. Sense is headquartered in Cambridge, Massachusetts.
To make sense of your energy, visit www.sense.com
About Blue Earth Capital
Blue Earth Capital AG is a global impact investment firm headquartered in Switzerland, with operations in New York, London and Singapore. Blue Earth Capital seeks to invest in businesses that address pressing environmental and social challenges, whilst generating market-rate financial returns. Initiated in 2015 by Urs Wietlisbach, one of the founders of Partners Group, and backed by the Ursimone Wietlisbach Foundation, Blue Earth Capital has been incubated by and built up with the support of Partners Group, leveraging its experience as a leading global private markets firm.
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