Ecolibrium in talks with investors for next round of funding

In a bid to consolidate its energy optimisation business, Ahmedabad-based Ecolibrium Energy is in talks with investors for its next round of funding. Earlier, IFC had invested around $ 1.5 million couple of years ago.

The Indian Institute of Management, Ahmedabad (IIM-A)'s Centre of Incubation, Innovation and Entrepreneurship (CIIE) incubated smart grid and energy management firm is planning to raise the fund on the back of an anticipated 100 per cent growth in its turnover. Ecolibrium has come a long way from offering merely smart grid and energy management services in terms of power consumption to now being a one stop shop for all sorts of energy needs for its clients. For instance, from merely tracking power consumption, Ecolibrium has begun offering energy measurement services for areas like humidity, temperature, pressure, flow, water and other forms of energy.

"We want to create an analytical platform where we could say your assets are underperforming. We are becoming a one stop shop for all kinds of energy optimisation needs of our clients. This year we will grow by more than 100 per cent. We are also going out and speaking to investors for the next round of funding," said Chintan Soni, co-founder of Ecolibrium Energy.

The company aims to become an energy intelligence player wherein it could not only measure all forms of energy consumption patterns for its clients but also provide energy sourcing optimisation analytics.

"If you were to buy cheapest power, where would you go? We want to provide this answer. Since we already understand our clients' consumption pattern and figure out what is their real time consumption trends, we now want to advise on where to buy energy from," Soni added.

From 120-odd clients couple of years ago, Ecolibrium Energy today serves over 550 customers.

The company also wants to focus on specific industries and their value chain to begin with, such as pharma, manufacturing, cement, paper and pulp industries. "We have a complete offering for industries like pharma, auto ancillaries, iron and steel," Soni added.

The company had earned a turnover of Rs 3.2 crore in fiscal 2013-14, again a 100 per cent growth over previous year.