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.
By integrating with major cloud providers, Greenpixie's proprietary technology helps IT teams terminate 'zombie' resources, optimise for purpose, including AI model use and select low-carbon regions, effectively resulting in software engineers being able to significantly reduce emissions from behind their laptops.
John Ridd, CEO and Co-Founder, says:
“Efficient use of cloud and AI is possible when the right culture and tooling is embraced. With Greenpixie’s high fidelity sustainability data enterprises can maximise the full potential of their intelligence.
This funding will enable us to accelerate our mission and continue our global reach in these pivotal times.”
According to Michael Strugl, CEO of VERBUND AG, Greenpixie addresses a structural customer problem in a high-growth market.
“The rapid validation among international customers and the savings achieved underscore the solution’s scaling potential.”
Luke Edis, Partner at Octopus Ventures, adds:
“Greenpixie sits at the intersection of rapid AI growth and the urgent need to decrease the energy usage and environmental impact of cloud computing.
By giving enterprises real-time visibility, the team is turning sustainability into a driver of performance and cost efficiency.”