SET Ventures has exited Sensorfact to ABB. Acquiring Sensorfact, a fast-growing energy management company headquartered in Utrecht, Netherlands, will further expand ABB’s digital energy management offering. The deal is expected to close in Q1 2025. Financial terms were not disclosed.
Established in 2017, Sensorfact offers a scalable software-as-a-service (SaaS) solution that helps small and medium-sized enterprises use AI in their operations and energy management to lower costs and increase efficiency. The company has more than 250 full-time employees in Utrecht, Amsterdam, Barcelona and Berlin and serves more than 1,900 customers across Europe.
SET first invested in Sensorfact in 2022 after being impressed by the drive of the founding team to build a disruptively easy-to-use product and highly effective sales machine. SET then followed on in Sensorfact’s recent €25M fundraise which saw the company reach highly ambitious growth targets and end in a great exit to ABB. Julia Padberg, Partner at SET Ventures and board member at Sensorfact says:
“Sensorfact has established itself as the European market leader in AI-powered industrial energy efficiency solutions and they are on a mission to eliminate all industrial waste. Partnering with ABB’s expertise, strong brand and global customer base will further accelerate Sensorfact’s growth. It has been inspiring to work with a management team that is so much in control of their operations and forecasts and that continuously plays into new industry trends with its innovative solutions. I will follow their progress within ABB with great interest.”
Massimiliano Cifalitti, President of ABB’s Smart Power division, said: “ABB and Sensorfact are on a mission to help companies improve their energy efficiency, reduce maintenance costs and boost production. ABB is expanding its portfolio of energy management solutions that use big data and AI to make electrical distribution and energy management both efficient and intelligent. This acquisition advances our digital strategy and provides an innovative way for customers to digitalise their manufacturing operations – helping them to become leaner and cleaner.”
Sensorfact’s SaaS solution includes plug-and-play sensors that measure consumption on machine-level and connect to a smart software platform. The company uses algorithms to analyse the data, identify energy-saving opportunities and provide easy-to-implement advice that is unique to each customer’s operations.
Sensorfact CEO Pieter Broekema said: “Sensorfact provides a single smart factory platform that enables customers to easily collect utility and production data and to reduce costs and carbon emissions. We help customers achieve significant savings and continue to innovate to help customers further reduce their industrial waste. We are one of the market leaders in Europe, and together with ABB we will bring our solutions to new global markets, faster.”
The International Energy Agency (IEA) report, Energy Efficiency: The Decade for Action, states that the world must double energy efficiency progress in the next decade in order to minimise the environmental impact of growing global energy demand. The report highlights the importance of leveraging digital innovation to drive smarter energy management.
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