AI startup QiO Technologies has closed $10m (£8.3m) in a Series B round led by US venture capital firm WAVE Equity Partners.
Hampshire-headquartered QiO’s AI tools are used by industrial firms, data centres and telecoms to decrease greenhouse gas emissions and operate more sustainably.
Rick Haythornthwaite, co-founder and chairman, QiO Technologies, said: “Energy-intensive industries and data centres have a crucial role to play in achieving a low carbon economy.”
Haythornthwaite also chairs the boards of The AA, Ocado Group and Mastercard
With the Series B capital, QiO plans to increase customer acquisition, develop its software and roll out its AI further across Europe and the USA.
“The companies we invest in are responsible for developing innovations that lead us toward a healthier, more hospitable planet,” said Mark Robinson, co-founder and managing partner of WAVE Equity Partners.
Founded in 2015, the South East firm currently has offices in the US, Germany and India.
“Our mission is for QiO to be the partner of choice for businesses that want to take decisive action today to accelerate their progress to net zero,” added Haythornthwaite.
Boston-based WAVE Equity Partners invests in businesses that are working in clean energy, water, waste, food and clean air.