Ampotech amplifies $725,000

Ampotech, a Singapore-based commercial energy usage monitor supplier spun out of University of Illinois and Singapore’s Agency for Science, Technology and Research, has received around $725,000 in a seed round led by VC fund Silicon Solution Ventures, Tech in Asia reported yesterday.
Telecommunications and infrastructure contractor Prasetia Dwidharma took part in the round, as did Seeds Capital, the investment arm of government agency Enterprise Singapore.
Ampotech makes hardware in the internet-of-things space that allows industrial and commercial clients to monitor power and energy consumption patterns at their facilities in real time and at a granular level.
The hardware contains sensors which wirelessly output data to a cloud-hosted analytics platform providing insights into potential energy efficiencies as well as the ability to remotely audit the client’s operations.
Ampotech will use the capital to enhance its product offering, setting its sights on further expansion in the Asia-Pacific region in countries including Australia and Indonesia, with the latter being Prasetia Dwidharma’s home market. The company will enter a new, unspecified Asia-Pacific market by the end of 2019.
Ampotech is a resident of the Co-Innovation Space incubator launched by semiconductor manufacturer Infineon Technologies, which provides members with a combination of co-working space, technological assistance and other expertise.