Japan Energy Fund invests in Sense, provider of home electricity monitors and applications for next-generation smart meters
London, 3 September ― Japan Energy Fund is pleased to announce that it has invested in Sense Labs Inc (“Sense”), a US company and leading global provider of home electricity monitors and applications for next-generation smart meters. We believe that Sense’s products can help accelerate the digitalisation of the Japanese energy market, bringing it to the forefront in the race to net zero.
Sense’s smart meter energy monitors and applications are highly advanced: they use machine learning to monitor a variety of load types, including solar PV and EV charging, in real time and with high accuracy. Combined with the ability to stream high-resolution data, they are currently the only residential technology available with these functions.
Their residential products can identify the energy consumption and on/off status of appliances by analysing energy consumption at up to 1 million measurements per second. Users are given insight into their consumption in easy-to-understand visuals via the application, which incentivises them to change their consumption habits. For energy suppliers and grid operators, Sense’s real-time device detection can help manage demand at the grid edge, identify faults on the network, and reduce operating and power costs.
Sense also provides their technology to Schneider Electric and Landis+Gyr, leading global players in energy management technology who focus on efficiency and sustainability. Considering this international profile and the strong technological prowess of their products, we believe there is a strong potential for growth. Hence, we have decided to invest in Sense, as we believe that they have the relevant technology to make a significant contribution to the digitalisation of energy in Japan.
Sense’s mission is to reduce global carbon emissions by making homes smart and efficient. We empower people to care for their homes and families while contributing to a cleaner, more resilient future. Founded in 2013 by pioneers in speech recognition, Sense uses machine learning technology to provide real-time insights on device behaviour, even for those devices that are not “smart”. Customers rely on Sense for a wide range of uses including monitoring their home appliances, determining whether they left appliances running and identifying how to reduce their energy costs. Sense has received investments from two of the world’s largest energy technology companies, Schneider Electric and Landis + Gyr. Sense is headquartered in Cambridge, Massachusetts, USA.
For more information: sense.com.