SOURCE: People Power

May 15, 2017 10:00 ET

People Power Closes Series B-1 Funding from innogy and Origin to Support Rapid Deployments of Smart Home Solutions for Utility Companies and Service Providers

Additional $4 million round brings People Power's investor funding to $14 million

PALO ALTO, CA--(Marketwired - May 15, 2017) - Internet of Things (IoT) and artificial intelligence (AI) software company, People Power, today announces its Series B-1 financing which includes $2 million from innogy SE (ETR: IGY), a subsidiary of RWE and Germany's leading energy company with more than 23 million customers, and $1.2 million from Origin Energy (ASX: ORG), Australia's largest energy retailer, in addition to other investments. This funding brings the company's total investments to $14 million and fuels the expansion of People Power's IoT deployments for service providers around the world.

Recognized as the only integrated solution of its kind, People Power's IoT Suite enables intelligent device connectivity for powerful and easily managed consumer IoT programs for energy retailers and digital service providers. The suite integrates AI using bots in order to understand real-time data streams from a user's life and learn patterns to provide more intelligent outcomes. These types of IoT services will revamp how the energy market interacts with consumers, while reimagining the kind of connected services consumers can engage with and how they are delivered.

"We're enabling exciting new services for utility companies and service providers that deliver improved lifestyle experiences to their customers, and this additional funding will help us accelerate our efforts to keep up with global demand," said Gene Wang, CEO and co-founder of People Power. "Energy providers can utilize our offerings to bring their customers solutions beyond typical energy services including home security and safety, improved energy management and more."

innogy and Origin are partnering with People Power to curate pilot programs in Germany and Australia, leading to broader market trials of smart home services. By bringing AI to IoT, People Power's ready-made white-label solutions deliver recurring revenues from smart home services for leading companies like innogy and Origin.

"Bot-enabled machine learning services are the next big step in the smart home market, and People Power is already there," said Florian Kolb, Managing Director of innogy New Ventures, Palo Alto. "Combining People Power's technology with innogy's platform will allow us to accelerate user participation and evolve our energy services in Germany. Its IoT services enhance our own sustainable and innovative energy solutions by enabling us to better scale and manage programs. The intelligence provided by People Power's technology opens new market and revenue possibilities."

"The rise of renewables is transforming energy markets around the world, however the biggest disruption has proven to be new technologies," said Cameron Briggs, Origin's Head of Future Energy. "To stay ahead of our competitors in Australia and provide valuable connected home services to our customers, we turn to partners like People Power. Utilizing People Power's solutions will help us to drive customer adoption and deliver key IoT services, establishing us as a market leader and helping us go beyond the basic utility model."

About People Power
Founded in 2009, People Power Company is an award-winning software company with unique expertise and success in creating mobile and cloud technology. The People Power IoT Suite enables rapid IoT device and program connection, engagement, delivery and management for digital service providers, telecoms and manufacturers. Bringing artificial intelligence to IoT for recurring revenues in security, energy and care services, its ready-made cloud and mobile software stacks connect consumers to valued lifestyle experiences. Services from concept through commercial release enabled by People Power are available as white-label solutions for customers around the world. For more information, visit www.peoplepowerco.com.

About innogy
innogy SE is Germany's leading energy company. With its three business segments -- Grid & Infrastructure, Retail and Renewables -- innogy addresses the requirements of a modern, decarbonised, decentralised and digital energy world. Activities are focus on its 23 million customers, offering innovative, sustainable products and services that enable customers to use energy more efficiently and improve quality of life. innogy New Ventures is the Palo Alto-based unit of innogy focused on securing future business through three core activities: market entry, venturing and innovation. This includes leading strategic investments in early- and later-stage companies, group-wide data-driven business model programs, and testing and launching new businesses for innogy. More information at www.innogy.com.

About Origin
Origin is an Australian integrated energy solutions provider with leading positions across energy retailing, power generation and natural gas production. Origin is scaling up its capabilities in digital metering, data and analytics to create innovative and differentiated energy solutions for its millions of customers. More information at www.originenergy.com.au.

Contact Information

  • Media Contact
    Paige Thornton
    Uproar PR for People Power
    Email Contact
    312-878-4575 x 246