Green Koncepts Completes Funding Round and Accelerates Growth Plans [Press Release]

May 30, 2014 by  
Filed under News

Singapore, 29 May 2014 – Green Koncepts, an innovative cloud energy management solutions provider, today announced it has successfully completed its latest funding round, supported by existing investor Juniper Capital Ventures and a group of private investors led by financial industry veteran Carol Fong, Chief Executive Officer of CIMB Securities. Ms. Fong will join the Green Koncepts’ Board, bringing with her over 28 years of extensive experience in capital management.

This funding round will enable Green Koncepts to double its headcount, execute its regional expansion strategy and accelerate new product development. Green Koncepts has also received further support from the Singapore Economic Development Board (EDB) through the Quick-Start programme which helps promising early-stage clean energy enterprises to accelerate the commercialisation of their technologies and solutions.

Kickstarting a new phase of growth, the company has moved to a larger premise within Technopark @ Chai Chee. The new facility houses GK Labs, an R&D centre which aims to develop and commercialise new technologies such as Intelligent Sensor Networks, Smart Grid and Smart City applications. The Singapore Economic Development Board (EDB) Executive Director, Cleantech, Building & Infrastructure Solutions, Goh Chee Kiong, was the Guest-of-Honour at Green Koncepts’ official office opening ceremony held today.

Goh Chee Kiong, Executive Director for Cleantech, Building & Infrastructure Solutions at EDB, said, “We are pleased that Green Koncepts, a promising enterprise specialising in cloud-based energy management, is investing in new capabilities and accelerating its growth. Green Koncepts’ technologies and business models are well aligned with Singapore’s interest to become a leading smart-sustainable city, in parallel with growing the green economy. We believe that the company will be able to leverage Singapore’s research capabilities and sophisticated lead demand to develop a strong track record, and go on to serve the region.”

Kenneth Lee, Founder and CEO, Green Koncepts said, “With the successful close of this funding round, we are expanding our R&D resources to accelerate new product development and grow our Sales & Channels team to serve our customers better. We see very strong demand for energy management solutions in Singapore and from the region, and we’re looking to develop partnerships to support our regional expansion plans.”

“Our award winning KEM Platform empowers our customers with real time energy visualisation, advanced analytics and intelligent controls that help them drive energy savings and shape behaviour. As the KEM Platform interoperates with thousands of devices worldwide and supports multiple protocols, our customers get an open and interoperable solution. This allows them to leverage existing investment in their meters and sensors while enabling centralised management of data generated by these devices over the Cloud in real time,” he added.

“We’re seeing an explosive opportunity in the Internet of Things (IoT) and Big Data Analytics worldwide. The KEM Platform is a piece of technology that provides the missing link to the Cloud for sensors and devices in a simple and cost effective manner. We see great promise and potential for the development of many more cost effective applications on this platform. The management has a clear vision and strategy, and has proven its ability to realise ideas into products that have generated market acceptance. This is why we’re increasing our investment in the company, to help accelerate their pace of product innovation,” said Tan Cheng Gay, Chairman & CEO, Juniper Capital Ventures.

Notable guests who attended Green Koncepts’ official opening celebration today include members of the Venture Capital community, BCA, SPRING, IDA, Utilities and industry professionals and consultants.

About Green Koncepts

Founded in 2008, Green Koncepts is a pioneer in Cloud Energy Management. By empowering you with Real Time Energy Intelligence & Intelligent Controls, our solutions help you make informed decisions to optimise energy. We create innovative technologies that are simple to use and cost effective to adopt, impacting occupants in living and work spaces and driving sustainability in the urban environment. By looking towards the future, we give businesses a competitive head start.

About KEM Platform

The KEM Platform is a Real Time Energy Management platform that provides advanced Energy Analytics, Visualisations and Intelligent Controls to help you make proactive decisions to reduce energy usage. The KEM Gateway, Smart Metering and Intelligent Sensor Networks monitor and manage electricity, water, gas, renewable energy and environmental conditions. This platform connects urban spaces and transforms them into an intelligent network, creating an adaptive environment that optimises energy, occupant comfort and safety. Designed to be highly scalable, the KEM Platform can be easily deployed to single or multiple sites across different countries, yet accessed through any web browser or mobile device, providing centralised energy management globally.

For more information, please visit: www.greenkoncepts.com

Source: Green Koncepts

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