About energyX Solutions
energyX Solutions is a Business Services company based in Toronto (Canada) founded in 2016, and was acquired by Apogee in February 2024. Energy audits are conducted via an app for service companies. It operates in the Business Services and Energy & Utilities sectors. energyX Solutions has raised $2.92 million across 4 funding rounds from investors including Globalive Capital, BDC and Apogee. Its focus areas include Energy Tech, Energy Efficiency Tech, ESCO and Enablers. Its competitors include ecobee and Nanoleaf; 2 of its 2 listed competitors have raised funding.
Company details
Founded in 2016 in Toronto, Canada, energyX Solutions operates in the energy efficiency sector. An app is provided to energy service companies for conducting audits on homes and small-to-medium businesses. Building profiles are analyzed using a proprietary algorithm to identify upgrades and retrofits. Actionable recommendations are generated in under 15 minutes to reduce energy bills.
- Headquarters Toronto, Canada
- Stage Acquired
- SectorsBusiness ServicesEnergy & Utilities
- Website energyxsolutions.com
- Social LinkedIn X
- Acquired by Apogee (Feb 2024)
- Total Equity Funding$2.92M (USD)
in 4 rounds
- Latest Funding Round$748.02K (USD), Seed
Aug 2020
- InvestorsGlobalive Capital
& 7 more
- Acquired byApogee
(Feb 2024)
Funding Insights of energyX Solutions
energyX Solutions has successfully raised a total of $2.92M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $748.02 thousand completed in August 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $2.92M
- Total Rounds 4
- Last Round Seed — $748,019
- First Round $1.3M
(Sep 2018)
- Investors Count 7
All 4 funding rounds of energyX Solutions with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug 2020 | $748,019 | Seed | – | BDC | – |
| Jul 2019 | $500,000 | Seed | – | – | – |
| Jan 2019 | $376,930 | Seed | – | MaRS Investment Accelerator Fund | – |
| Sep 2018 | $1.3M | Seed | – | Globalive Capital, Impact Investment Partners |
8 investors in total: 8 institutional.
Investors in energyX Solutions
energyX Solutions has secured backing from 8 investors, including institutional and venture fund investors. Prominent investors backing the company include Globalive Capital, BDC and Apogee.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage technology startups are supported through investments by MaRS IAF. | marsiaf.com | Canada | ||
Venture capital is provided to Canadian tech and offline companies. | 1998 | globalive.com | Toronto, Canada | |
Impact investments are directed toward UK and Indian tech companies. | impactinvestmentpartners.com | London, United Kingdom | ||
Armco Capital is engaged in real estate development and investment. | 1982 | armcocapital.com | Halifax, Canada | |
| verstraventures.com | ||||
L-SPARK is recognized as Canada's leading corporate accelerator partner. | l-spark.com | Ottawa, Canada | ||
Commercial banking services for small and medium-sized enterprises are provided. | 1944 | bdc.ca | Montreal, Canada | |
Mechanical, electrical, and facility management services are provided by Apogee. | 1993 | apogee.net | Tucker, United States |
Investor details for energyX Solutions
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Timeline of energyX Solutions
4 dated milestones of energyX Solutions across 8 years, from founding to its latest funding, stage changes and deals.
- Founded energyX Solutions is founded.
- Funding First funding round of $1.3M.
- Funding Latest funding round, Seed, of $748K.
- Exit Acquired by Apogee.
Competitors of energyX Solutions
energyX Solutions has 2 listed competitors in our database, 2 of them funded. They include ecobee and Nanoleaf.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| ecobee.com | 2007 | Toronto, Canada | $151.52M | Provider of smart thermostats for commercial and residential applications | ||
| nanoleaf.me | 2012 | Toronto, Canada | $2.9M | 94 | Energy-efficient smart lightbulbs are developed by Nanoleaf. |
Detailed competitors of energyX Solutions
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Frequently Asked Questions about energyX Solutions
energyX Solutions was founded in 2016 and raised its 1st funding round 2 years after it was founded.
energyX Solutions is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
energyX Solutions is a funded company, having raised a total of $2.92M across 4 funding rounds to date. The company's 1st funding round was a Seed of $1.3M, raised on Sep 2018.
Founded in 2016 in Toronto, Canada, energyX Solutions operates in the energy efficiency sector. An app is provided to energy service companies for conducting audits on homes and small-to-medium businesses. Building profiles are analyzed using a proprietary algorithm to identify upgrades and retrofits. Actionable recommendations are generated in under 15 minutes to reduce energy bills.
energyX Solutions has 8 investors. Key investors include Globalive Capital, BDC, Apogee, MaRS IAF, and Impact Investment Partners.
Yes. energyX Solutions was acquired by Apogee in February 2024.