Bidgely raises $2.06 million from IvyCap Ventures

Bengaluru: Bidgely, an artificial intelligence-based energy analytics firm, has raised Rs 15 crore (around $2.06 million) from IvyCap Ventures to accelerate its growth plans.

Bidgely, operated by Bidgely Inc, uses its AI platform to enhance meter and customer data to help utilities and energy companies better understand and engage with their audiences. Apart from this, it also lets companies create personalized energy profiles for individuals to provide targeted marketing benefits.

The investment from IvyCap Ventures will help it develop its platform to include electrification, electric vehicle, and decarbonization solutions, as well as accelerate growth in other markets, CEO Abhay Gupta said.

The company works with more than 30 utilities and energy retailers across the world. Other investors in the company include Georgian Partners and Khosla Ventures.