Envision Digital, a Singapore-headquartered AI and Internet technologies software provider, has announced raising $210 million in a Series A funding round anchored by Sequoia China and backed by GIC.
The firm, which is a part of Chinese renewable energy-focused Envision Group, said in a statement on Tuesday that the fresh capital will help it accelerate its transition to net zero through global expansion, additional R&D and exploration of new strategic partnerships.
The company provides AI and Internet of Things software driving the transition to net zero. Its proprietary tech operating system connects and manages more than 200 million smart devices and 400 gigawatts of energy assets globally.
Envision Digital claims to have over 900 employees and 13 offices across the UK, France, Germany, Malaysia, the Netherlands, Norway, Japan, Thailand, China and the US, with headquarters in Singapore.
The investments from Sequoia China and GIC are timely as the company is working with customers and partners to accelerate the journey to net zero, according to Envision Digital CEO Lei Zhang.
“Sequoia China and GIC’s long-term priorities are well aligned with ours – in the strong belief that a purpose-built software platform for transitioning to net zero will play a critical role for customers and partners to deliver on their net zero commitments,” Zhang added.
Earlier this year, the company announced a new partnership with global solar developer Lightsource BP to accelerate the growth and optimisation of solar power.
In January, it also tied up with Mott MacDonald to help cities, industrial clusters, transport operators and other customers achieve their net-zero goals faster and more effectively, according to the announcement.
Sequoia China founding and managing partner Neil Shen said the investment in Envision Digital forms part of its support in the race to net zero carbon emissions globally.
“Climate change and the transition to carbon neutrality is one of the greatest challenges humankind has faced. Envision Digital is a visionary innovator in this field and has helped to reduce carbon emissions across multiple industries,” he added.
Envision Digital’s ecosystem of more than 360 customers and partners spans 10 industries and includes Accenture, Amazon Web Services, GovTech Singapore, Keppel Corporation, Microsoft, Nissan, PTT, Solarvest, Total and ST Engineering.