Cipio et al. invest £1.4m in Onzo
Direct secondaries specialist Cipio Partners has taken part in a £1.4m round for portfolio company Onzo, a London-based energy data analytics company, alongside new and existing investors.
The fresh capital will enable Onzo to invest in product development and to expand its US operations.
West Coast Capital also took part in the round – their first investment in the company.
The investors stated they were attracted to the deal by the company's extensive energy database and by the energy industry's necessity to meet new climate change regulations.
Previous funding
According to unquote" data, Onzo raised its first round of funding in March 2014 when Sigma Capital and Scottish & Southern Energy each invested £1m in the company.
Company
London-based Onzo is an energy data analytics company founded in 2007. Its clients include US smart metering business Silver Spring Networks, research firm Kantar, home services company Bundles and energy analyst Net2Grid. The company has fewer than 50 employees.
People
Joel Hagen is CEO of Onzo. Christoph Wedegaertner is a partner at Cipio. Paul Davidson is a partner at West Coast Capital.
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