Energy Master announces USD $5 million funding | Photo: Energy Master
The emerging firm Energy Master has announced a funding of USD $5 million, primarily aimed towards the integration of Artificial Intelligence (AI) and automated bots into its system. It is renowned for its work in monitoring and managing public services, handling around 500,000 bills from companies across various economic sectors.
Regarding the anticipated upgrades for their system, it was conveyed that this capital will enable the enhancement of real-time tracking of consumptions like electricity, water, aqueduct services, and gas. At present, their platform aids in potential savings that can reach up to 30%.
Energy Master’s CEO, Cesar Berrio, stated:
“We are in the process of crafting an innovative tool that will synchronize with ChatGPT, granting us greater adaptability, effective communication, heightened efficiency, optimized reports, and robust information security. With AI’s aid, data will be accessed directly, giving companies a virtual assistant that will supply detailed reports, action strategies, and maximize their bill savings. This will set a benchmark in the management of public services in both Colombia and the broader region.”
Furthermore, Berrio emphasized that part of the investment will be used to bolster their international expansion strategy and solidify their new establishment in the U.S.
“With this capital injection, we will amplify our reach in the markets where we already have a footprint and gear up for our 2024 expansion into Brazil, Uruguay, and Paraguay. These will join our existing operations in countries like Colombia, Mexico, Peru, Chile, Argentina, and the United States.”
Looking ahead, specifically to 2024, Energy Master plans to allocate USD $2 million towards the creation and launch of a Telco module, focusing on managing bills in the telecommunications sector, encompassing internet services and mobile telephony in Colombia. Additionally, they are devising solutions for households, allowing residents to live-monitor their consumption of services, with the aim of reaching around 300,000 homes in its initial phase.
