Energy efficiency as a service (EEaaS) start-up TablePointer Pte Ltd (TablePointer) in Singapore has announced that it has raised more than $3 million in a competitive seed funding round led by Wavemaker Partners, AgFunder, ENGIE, and Steve Melhuish.
TablePointer Chief Executive Officer Jason Tang declared in a statement that the business intends to keep raising money to expand its technological infrastructure.
He claims that the money will be invested in new product modules, features, and market expansion in the area.
Through its EEaaS model, TablePointer assists businesses in becoming more energy-efficient.
The business manages the implementation, monitoring, and maintenance of Internet of Things (IoT) and artificial intelligence (AI) solutions for energy efficiency at no initial cost.
Energy savings, reduced carbon footprints, and improved operational excellence benefit business operators.
The business offers innovative plug-and-play energy efficiency technology with zero upfront costs, particularly for the food and beverage sector.
“The food and beverage (F&B) industry has been slow to adopt sustainability solutions due to a perceived lack of rapid return on investment (ROI).
“TablePointer addresses this problem by offering a plug-and-play solution that provides immediate tangible savings and significant reduction in greenhouse emissions – without any upfront costs,” said Steve Melhuish, Chairman of TablePointer and Founding Partner of Wavemaker Impact.
He claims that as a result, many of the biggest and best-known F&B chain brands as well as small independent outlets have adopted it quickly.
“We’re excited to support TablePointer as they continue their impressive growth journey,” he added.
Tablepointer has a first-mover, leadership advantage in the highly fragmented $20 billion Asian energy efficiency market, according to AgFunder Asia Senior Investment Associate Angela Tay.
“Their easy-to-deploy technology stack and scalable SaaS model not only makes them a compelling partner for enterprises everywhere seeking to achieve energy savings and efficiency but also a perfect addition to our AgFunder SIJ Impact Fund portfolio,
“We are looking forward to supporting Jason and his team as they help companies across Asia manage their energy use and deliver tangible environmental impact,” he added.