07.23.19
Fluence Analytics, a startup that provides combined hardware and software analytics solutions to polymer manufacturers, announced it has raised a Series A-1 funding round.
The financing includes participation from existing investor Energy Innovation Capital (EIC) and new investor Diamond Edge Ventures, Inc., the U.S. venture capital arm of Mitsubishi Chemical Holdings Corporation established in 2018.
Fluence Analytics will use the new funds to support its paid proof of performance trials, expand sales activities, and invest in new hardware and software capabilities.
“We are very excited to add a strategic investor with a shared vision for realtime analytics,” said Alex Reed, CEO of Fluence Analytics. “We look forward to the continued deployment of our technology for manufacturing optimization and accelerating R&D for next-generation materials.”
As part of the A-1 funding round, Patrick Suel, president of Diamond Edge Ventures and a veteran corporate venture executive, has joined the Fluence Analytics’ Board of Directors.
“Diamond Edge Ventures is pleased to partner with Fluence Analytics and enable its growth,” Suel said. “We expect significant benefits from real-time polymer analytics to improve operational efficiency and product quality while generating long-term insights from these advanced datasets at Mitsubishi Chemical Company.”
“We are really encouraged by the market traction that Fluence Analytics is building as evidenced by its work with 20% of the top 20 global chemical manufacturers,” added George Coyle, member of the Fluence Analytics’ Board of Directors and managing partner at EIC.
