The pre-Series A funding round led by Pavestone Technology Fund (Pavestone VC) has seen $2.75 million raised for the artificial intelligence-driven decarbonization platform LivNSense.
According to a press release from LivNSense, the company intends to use the money to develop its green AI platform, which will reduce carbon emissions by hundreds of megatons and have an international impact.
LivNSense is an Industrial AI company that was co-founded in 2018 by Avinash and Priyanka Kumar. It tackles net zero challenges to lower GHG carbon emissions worldwide. To tackle the net zero challenge, LivNSense has introduced GreenOps, a specialised AI platform for energy balance.
The Bengaluru-based company claims that its patented IPS helps businesses concentrate on decarbonization across process value chains and is utilized by major worldwide players in the metals, petrochemical, and cement and asphalt manufacturing industries to help lower carbon emissions and increase profitability.
LivNSense reported 2.45 crore in revenue in FY23 as opposed to 2.18 crore in FY22, and the company made a profit of Rs 4.76 lakhs and Rs 7.27 lakhs, respectively.
With a target corpus of Rs 700 crore, Pavestone is a SEBI-regulated alternative investment fund (AIF) that has backed businesses like Bellatrix Aerospace, E42.ai, and Newspace.
