Overview
Innowatts is an innovative technology company that specializes in AI-powered energy data analytics, with a mission to transform and optimize energy markets globally through its SaaS platform. The platform is recognized for its advanced machine learning models, which enhance forecast accuracy for retail energy providers, utilities, and grid operators.
Key Offerings
Innowatts provides a comprehensive suite of solutions designed to convert energy data into actionable insights:
- Connect: Seamlessly integrates with business operations to securely offer necessary energy insights.
- Extract: Utilizes meter-level data to generate industry-leading insights.
- Forecast: Employs advanced machine learning techniques to deliver accurate energy forecasting.
- Deliver: Aims to support sustainability, reliability, and profitability objectives for clients.
Market and Global Presence
With data insights derived from over 52 million meters across diverse global energy markets, Innowatts processes billions of data points to enable precise time interval forecasting, supporting the move towards net-zero energy goals and enhancing grid reliability.
Leadership Team
- David Boundy, Chief Executive Officer: Has over 25 years of experience in IoT and energy industries, formerly leading Intel's Global Energy Solutions.
- Akhlak Ahmed, Chief Analytics Officer: Co-founder with two decades of expertise in analytics and product development, managing the smart meter customer base and operational streams.
- Zohar Asher, Chief Commercial Officer: Specializes in commercializing products and promoting widespread adoption of Innowatts' SaaS platform.
- Siddharth Dhar, Vice President Product Management: Focuses on product innovation with a customer-centric approach, recognized as a top product leader.
- Keith Ellis, Vice President Engineering: Oversees AI product delivery and technological advancements, having led several Intel Labs projects.
Financial Overview
Innowatts has raised $24.2M through various funding rounds with investors like Energy Impact Partners. The enterprise value of the company ranges between $73M and $109M, with its latest funding round completed in September 2023.
Industry Recognition
Acknowledged as "Energy Analytics Company of the Year" by Frost & Sullivan, Innowatts is celebrated for its real-time, data-driven insights that enhance predictive and proactive capabilities for utilities and retailers.
Headquarters
The corporate headquarters is located at 2900 North Loop West, Suite 600, Houston, Texas 77092. For further inquiries, contact: info@innowatts.com.
Competitor Profiling
AutoGrid
AutoGrid specializes in energy management and capacity solutions, particularly in IoT-enabled distributed energy resources management. Following its acquisition by Uplight, AutoGrid aims to enhance its global clean energy solutions. With headquarters in Redwood City, California, it employs 51-200 individuals.
Hello Watt
Targeting the European market, notably France, Hello Watt offers platforms for utility cost comparison and energy management. It assists consumers in reducing energy costs and has expanded operations into Spain, leveraging a digital platform to reach a broader market. The company exceeds 200 employees.
Amperon
Founded in 2017 and based in Houston, Texas, Amperon emphasizes energy forecasting and analytics, combining data management with AI to optimize grid performance. It supports utilities in grid stability and operational efficiency with a team of 51-200 individuals.
Additional Competitors
- Grid4C (Austin, Texas, 11-50 employees): Provides AI-driven analytics solutions from smart meter and IoT data for enhanced business decisions.
- Bidgely (Mountain View, California, 51-200 employees): Known for energy analytics and utility customer engagement solutions via patented disaggregation technology.
Understanding competitors such as AutoGrid, Hello Watt, and Amperon is vital for Innowatts to maintain competitive positioning. These firms offer various strengths, including IoT applications, AI forecasting, and comprehensive energy management, reflecting the dynamic landscape Innowatts operates within.
