Rapidus reported early this week that after a decline in revenue last year due to the effect of COVID-19, SenseNode is now raising SEK 10 million (~ €985k) to develop a new AI based energy analysis tool, and to expand their services.

“Our wireless sensors collect data and so far it has helped many of our customers to make energy savings of 10-25 percent. The next natural step for us is to invest in data analysis so that we get a more comprehensive offer. But that means that we have a lot of development time ahead of us,” he told Rapidus.

Although the effect of the pandemic is still stagnating in some parts of their business, the CEO Erik Andersson believes that their energy-saving technology tool will help revive the company. He shares that the current order flow is the strongest ever.

SenseNode is a user-friendly Industry 4.0 IIoT platform that includes comprehensive energy mapping, visualization, and management. The tool helps businesses take the correct steps to reduce energy consumption, so they can save a lot of time, money, and grow towards becoming sustainable businesses.