Raleigh energy data startup Ndustrial raises $18.5 million, will double headcount

Ndustrial , a Raleigh startup that helps companies collect data on their energy consumption, has raised $18.5 million from investors and plans to double its headcount, Ndustrial's CEO Jason Massey tells Axios.

Why it matters: Ndustrial helps companies collect real-time data from their factories or warehouses, which it then puts into an analytics platform to help them manage their energy consumption and reduce costs.

Driving the news: Ndustrial's funding round is being led by Swiss industrial giant ABB and the Korean energy company GS Energy, a partnership that Massey says will help expand its potential customer base both in the U.S. and abroad.

• The company built much of its early success around working with cold storage companies, but has since diversified into other industries, like oil and gas and textiles, Massey said.

By the numbers: Ndustrial, which has an office in the Warehouse District, currently has 42 employees, but will likely double that in the coming year, as it builds out a bigger sales, marketing and customer success team.

• Around 30% of its business is overseas now, with recent projects in Brazil in Mexico. Massey expects that non-U.S. projects could grow to 40% of its work.
• The company operates at more than 400 sites across the world, a number that grew 55% last year, Massey said.