NEW ORLEANS ‒ Fluence Analytics, a startup that provides combined hardware and software analytics solutions to polymer manufacturers, has raised a Series A-1 funding round. The financing includes participation from existing investor Energy Innovation Capital (EIC) and new investor Diamond Edge Ventures Inc., the U.S. venture capital arm of Mitsubishi Chemical Holdings Corp. established in 2018.
Fluence Analytics will use the new funds to support its paid proof of performance trials, expand sales activities, and invest in new hardware and software capabilities.
“We are very excited to add a strategic investor with a shared vision for real-time analytics,” said Alex Reed, CEO of Fluence Analytics. “We look forward to the continued deployment of our technology for manufacturing optimization and accelerating R&D for next-generation materials.”
As part of the A-1 funding round, Patrick Suel, President of Diamond Edge Ventures and a veteran corporate venture executive, has joined the Fluence Analytics Board of Directors.
“Diamond Edge Ventures is pleased to partner with Fluence Analytics and enable its growth,” said Suel. “We expect significant benefits from real-time polymer analytics to improve operational efficiency and product quality while generating long-term insights from these advanced datasets at Mitsubishi Chemical Co.”
“We are really encouraged by the market traction that Fluence Analytics is building as evidenced by its work with 20% of the top 20 global chemical manufacturers,” said George Coyle, member of the Fluence Analytics Board of Directors and Managing Partner at EIC.