A Toronto-based energy management software company this week closed a round of investment.
Edgecom Energy recently announced the closing of “a significant investment.” The round was led by Toronto’s Greensky Ventures and included participation from ABB Electrification Ventures.
The strategic funding is earmarked to support Edgecom’s expansion into new energy markets and accelerate the growth of their artificially intelligent Energy CoPilot product.
“This investment marks a transformative moment for Edgecom Energy as we accelerate our mission to redefine energy management for the commercial and industrial sectors,” stated cofounder and CEO Behdad Bahrami.
“With the support of Greensky Ventures and ABB Electrification Ventures, we are scaling our AI-powered Energy CoPilot to bring smarter, faster, and more impactful solutions to energy-intensive facilities worldwide,” he said.
Energy-intensive facilities face increasingly complex challenges, which Edgecom addresses by integrating its Energy Management Information System with grid programs to leverage Generative AI capabilities.
The result is a streamlined, scalable energy management solution for commercial and industrial facilities, according to the firm.
“Our platform delivers—helping clients cut costs, reduce emissions, and optimize their operations while strengthening the grid,” Bahrami stated. “By expanding into new markets and advancing our technology, we’re empowering businesses to achieve unprecedented levels of energy efficiency and operational excellence.”
Mehdi Parvizi, cofounder and CTO of Edgecom Energy, says Copilot is “evolving into a smarter, more intuitive engine that mimics human decision-making.”
“This innovation is paving the way for a ‘super energy manager’ capable of minimizing downtime, cutting energy consumption, and optimizing operations,” Parvizi remarked. “Building on this foundation, we are developing habit-forming technology through a tech-enabled platform seamlessly integrated with our services.”
GreenSky Principal Moien Giashi believes that, “As energy conservation efforts intensify globally, Edgecom’s data-driven solutions will become increasingly valuable to industrial users looking to manage their energy usage.”
GreenSky invests in early-stage Canadian technology companies through its affiliated venture capital fund, GreenSky Accelerator Funds I – VI.
ABB is a global technology leader in electrification and automation with more than 50,000 employees across 100 countries. Since 2021, the ABB Electrification business has invested more than $80 million in startup technology companies.
Edgecom was established in 2016.