# PowerX Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/powerx-technology

- Industry: Software
- Headquarters: Brooklyn, US
- Website: www.powerx.co
- Total disclosed funding: $4M
- Latest round: Seed (Apr 7, 2023)
- Investors on record: 3

## About

Based in the US, PowerX Technology, Inc. develops innovative energy solutions aimed at reducing costs for consumers while promoting sustainability through advanced energy management systems.PowerX Technology, Inc. was founded in 2019 and is headquartered in Brooklyn, US. The company specializes in energy management systems designed to optimize energy consumption. In April 2023, PowerX raised USD 4.00 mn in a Seed funding round from investors Antler and SpringTide Capital Management. The total amount raised by the company to date is USD 4.00 mn.PowerX Technology specializes in innovative energy solutions designed to reduce costs for consumers while promoting sustainability. The company's core offerings include advanced energy management systems that optimize energy consumption for residential and commercial users. These systems leverage smart technology to enable users to monitor and control their energy usage in real time, thereby reducing waste and lowering utility bills. PowerX targets a diverse client base, including homeowners, small businesses, and larger enterprises looking to enhance their energy efficiency. The products are distributed primarily in North America and Europe, addressing the growing demand for eco-friendly energy solutions in these regions.PowerX Technology employs a subscription-based revenue model, allowing clients to sign up for ongoing access to its energy management services. This structure facilitates consistent revenue generation as customers pay a monthly fee for software updates and customer support. In addition, PowerX engages in partnerships with retailers and energy providers, which enhances its market reach and establishes a solid distribution channel for its flagship products. The pricing plans are tailored to various customer segments, ensuring that both individual consumers and businesses can access the services that meet their specific energy needs.PowerX Technology plans to utilize its recent Seed funding of USD 4.00 mn to develop new advanced energy management products with a targeted release in late 2023. The company also aims to expand its market presence in Asia and South America by 2024, focusing on regions with increasing demand for sustainable energy solutions. The funding will support product development and marketing efforts for these new initiatives.

## Funding rounds

- Seed, Apr 7, 2023 — Pioneer Fund
- Seed, Apr 23, 2021, $4M — Antler, SpringTide Capital Management

## Investors

- Antler (https://capitalatlas.ai/funds/antler) — Seed
- SpringTide Capital Management (https://capitalatlas.ai/funds/springtide-capital-management) — Seed
- Pioneer Fund (https://capitalatlas.ai/funds/pioneer-fund) — Seed