Olea Edge Analytics, an Austin, Texas-based intelligent edge computing platform for the water utility industry, closed a $35 million in Series C funding led by New York-based global private equity and venture capital firm Insight Partners.
The company intends to use the funds to accelerate hiring across all departments and further develop their AI and edge computing-based solutions to help utilities manage water.
Company: Olea Networks, Inc.
Raised: $35.0M
Round: Series C
Funding Month: October 2021
Lead Investors: Insight Partners
Additional Investors:
Company Website: http://oleaedge.com/
Software Category: Edge computing platform>AI
About the Company: Olea's proven technology empowers utilities to optimize water delivery, billing, and conservation so cities can generate millions more in revenue. Committed to helping water utilities combat aging infrastructure, meet greater demand, and limit rate increases, Olea's patented solution combines IoT and edge computing capabilities to bring transparency, accuracy, and reliability to the delivery of the world’s most precious resource.
Source: https://www.businesswire.com/news/home/20211006005208/en/Olea-Edge-Analytics-Closes-35M-Series-C-Round-to-Empower-Cities-with-Artificial-Intelligence-to-Recover-Lost-Water-Revenue