Energy SaaS startup Greenpixie has closed a £4.7 million pre-Series A round to help the world's largest companies cut millions of dollars in wasted IT spend.
Created to provide a crucial layer of sustainability intelligence to decarbonise cloud and AI infrastructure usage, the investment in the UK-based company is led by VERBUND X Ventures, the corporate venture capital arm of one of Europe’s largest renewable electricity producers. Octopus Ventures, Armajaro Holdings, and Green Angel Ventures have also participated in the round.
Data centres are responsible for up to 6 per cent of electricity consumption in the UK and US, according to the International Data Centre Authority (IDCA), with demand soaring as a result of the accelerated uptake in AI. It is estimated that close to a third (29 per cent) of enterprise cloud use is wasted each year due to a lack of visibility for decision-makers – with global spend forecasted to rise to over $1trillion imminently, demand for ‘FinOps’ and ‘GreenOps' solutions is rising fast.
Greenpixie works with Fortune 1000 companies such as Mastercard to enable them to make sustainable decisions around cloud infrastructure and large-scale AI deployment – resulting in huge savings in carbon, water and cost while still pursuing growth.
