Principia et al. invest in Eco4Cloud
Principia and dpixel have invested €300,000, with a further €2m investment guaranteed, in Italian energy saving technology developer Eco4Cloud, according to reports.
Principia is said to have invested from its fund Principia SGR, while dpixel has drawn from its Digital Investments fund.
Company
Eco4Cloud has developed a technology platform that enables energy saving in data centres. The product is based on proprietary mathematical algorithms that control cloud activity, saving a third of electricity consumption.
The business was founded by CEO Raffaele Giordanelli, CTO Giuseppe Papuzzo, Carlo Mastroianni and Agostino Forestiero at the ICAR-CNR Institute, the Institute for High Performance Computing and Networks of the Italian National Research Council in Cosenza in 2011. The founders said they developed their algorithms by observing the behavior of ants.
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