SGInnovate-backed greentech firm banks $2m from GGV

Resync Technologies, a Singapore-based company that provides AI solutions for energy management, has raised US$2 million in its series A round from GGV Capital.

The Resync Technologies team / Photo credit: Resync

Founded in 2017, the firm helps its clients save on monthly electricity bills and meet their sustainability goals. It provides companies with access to solar and wind analytics, intelligent building management, smart microgrids, internet of things and smart metering systems, telecom tower management, and electric vehicle and mobility solutions.

The funding from GGV will boost Resync’s market expansion across the Asia Pacific and the Middle East and drive business development. It will also help the firm with talent acquisition and its research and development efforts.

“With adoption of energy efficiency technology growing exponentially, Resync is well-positioned to drive global digitalization and enable a more efficient, intelligent, and sustainable energy future for all,” said Emir Nurov, founder and CEO at Resync.

Achieving energy efficiency by deploying smart equipment is one of the strategies highlighted by the UN Climate Change Conference, which recently held its 26th Conference of Parties (COP 26). Closer to home, Singapore has developed a Green Plan, which includes planting 1 million trees and working to “green 80% of all buildings over the next decade.”

“The efficient and sustainable use of energy is the key issue of our time. We believe technology and great software will play an integral role in finding the solution,” said Weihan Liew, venture partner at GGV Capital.

Currently, 20 customers are using Resync’s solutions across seven Asian markets, covering over 150 buildings and 300 megawatt peak in solar assets. The company had previously received seed funding from SGInnovate, August One, Entrepreneur First, and Indonesia-based investment firm Prasetia Dwidharma.