Energy technology company Utilidata is reported to have raised $20.5m funding from Saudi Aramco Energy Ventures and Formation 8.
Utilidata, a US-based energy technology company which helps electric utilities to reduce energy waste, is reported in The Providence Journal to have raised $20.5m from Saudi Aramco Energy Ventures, a venture capital subsidiary of Saudi Arabian Oil Company, and from venture capital firm Formation 8.
Jim Kim, partner and founder of Formation 8, has joined Utilidata’s board of directors.
The funding will be used by Utilidata to expand into the Middle East and Asia.
In total, Utilidata…
