Sustainability Software Startup QiO Raises $10M; Targets Data Center Energy Management, GHG Emissions
February 17, 2023 by Joe Panettieri
QiO Technologies, a sustainability software startup that targets industrial companies, data center providers and telecom operators, has raised $10 million in Series B funding from WAVE Equity Partners of Boston, Massachusetts.
QiO, founded in 2015, is based in Farnborough, Hampshire, United Kingdom and has delivery teams in India. The company has 40 employees listed on LinkedIn as of February 17, 2023.
QiQ develops the Foresite Sustainability Suite -- a software platform that helps energy-intensive customers to cut greenhouse gas (GHG) emissions. Key target markets include automotive, steel, glass, cement, oil & gas, data centers and telecom service providers. Early adopters of the platform have gained up to 20% savings on energy and maintenance costs, and reduced GHG emissions by up to 10%, QiO asserts.
QiO’s newest product, Foresight Optima DC+, was developed in partnership with Intel to meet the needs of energy-intensive data centers. That offering has delivered energy savings and emissions reductions of 20-30% in data centers worldwide, QiO said.
The suite can collect data from industrial assets such as kilns, furnaces, boilers compressors, cooling systems and data center servers. The software also automates real-time ESG reporting, enabling every customer to track and report Scope 1 and Scope 2 emissions, QiO said.
QiO has a partner program that works with a range of company types -- including:
IIoT (Industrial Internet of Things) platform providers