Noveda Technologies

Noveda Technologies specializes in real-time, web-based energy and water monitoring solutions, providing innovative SaaS products that optimize resource management for various sectors. Founded in 2006 in Bridgewater, US, Noveda Technologies focuses on developing advanced energy and water monitoring systems. The company has completed 2 deals, with the most recent funding round occurring on December 22, 2013, where it raised USD 3. 5 mn.

The CEO is Govi Rao. Noveda Technologies offers innovative real-time, web-based energy and water monitoring solutions, focusing on SaaS products. Their flagship application, Building EKG, enables users to manage renewable energy production and track resource consumption remotely. The company serves a diverse client base, including commercial, retail, industrial, governmental, educational, and utility sectors, primarily in the United States.

Noveda's proprietary software aims to reduce the energy and water footprint while optimizing renewable energy systems' performance. Noveda Technologies operates on a subscription-based revenue model for its software solutions, providing clients with access to real-time monitoring tools and data analytics for energy and water usage. Agreements typically involve various service tiers, tailored to client needs, with the Building EKG application being central to this model. Revenue is generated through these subscriptions, catering to customers seeking to optimize resource consumption and reduce operational costs through advanced monitoring technologies.

Noveda Technologies plans to further develop and launch new products focused on enhancing energy and water monitoring capabilities, with specific release dates yet to be announced. The company is targeting expansion into additional geographic markets, specifically aiming to reach new sectors by the end of 2015. The recent funding of USD 3. 5 mn raised in December 2013 will be utilized to support these initiatives, allowing for increased product development and market penetration.