TablePointer, a Singapore-based energy-efficiency-as-a-service (EEaaS) company, announced on Tuesday that it has raised more than $3 million in a seed funding round led by Wavemaker Partners, AgFunder, ENGIE, and Steve Melhuish.
With the new funding, TablePointer CEO Jason Tang plans to add new features and product modules to its platform and enter fast-growing markets in the region.
Through its EEaaS model, TablePointer helps businesses become more energy efficient.
With no upfront costs, the company offers Internet of Things (IoT) and artificial intelligence (AI) solutions for energy efficiency.
Operators benefit from energy savings, reduced carbon footprints, and improved operational efficiency.
With its innovative zero upfront costs approach, the company provides plug-and-play energy efficiency technology, especially for the food and beverage industry. "The food and beverage (F&B) industry has been slow to adopt sustainability solutions due to a perceived lack of rapid return on investment (ROI). "TablePointer addresses this problem by offering a plug-and-play solution that provides immediate tangible savings and a significant reduction in greenhouse emissions – without any upfront costs," said Steve Melhuish, Chairman of TablePointer and Founding Partner of Wavemaker Impact.
Tablepointer has a first-mover advantage in the highly fragmented $20 billion Asian energy efficiency market, according to AgFunder Asia Senior Investment Associate Angela Tay.
Energy Solutions Asia Pacific's Chief Executive Officer and Country Head for Southeast Asia, Thomas Baudlot, said TablePointer's EEaaS model enables food and beverage companies to manage their energy consumption and reduce their carbon footprint by eliminating the need for costly and complex facility upgrades, leading to optimal savings.
According to TablePointer, its efforts to reduce carbon emissions and increase energy efficiency significantly impact the environment.