Element Analytics, a developer of analytics data management and integration software for industrial companies, announced Series A funding of $19.5 million.
The new investors – GE Ventures, Honeywell Ventures, ABB Technology Ventures, Mitsui & Co., Aster and Blue Bear Capital – join current investors Kleiner Perkins Green Growth Fund and private investors focused on energy transformation.
These investors’ funding, combined with previous seed equity investments, brings total funding in Element Analytics to $22 million.
Element Analytics plans to use the funding to invest in software development, market development and operations.
Element Analytics integrates large volumes of data from a wide variety of sources including sensors and engineering and operational systems. The company’s Element Platform creates and maintains “Digital Twins” to enable accurate analysis.
Andy Bane, CEO of Element Analytics, said: “Our platform is designed to take data from industrial operations and make it easy to trust, manage, and analyze.”