Fundz

Emerson Invests In Frugal Technologies

PRIVATENov 20, 2023

Round Type

Funding Round

St. LouisInformation TechnologySoftware

Investors

Emerson

Description

Emerson (NYSE: EMR), a global automation technology and software company, today announced it has made a strategic investment in Frugal Technologies, a Danish-based company that offers fuel optimization technologies that reduce energy use and emissions in shipping fleets. The investment aligns with Emerson's fuel management and propulsion control and optimization expertise in its marine systems and solutions business.

Who else raised in Software around the same time

Companies in the same sectors as Frugal Technologies that raised within 45 days of this round, from Fundz verified event records.

  • Cursor raised $8M (Funding Round) on October 11, 2023.
  • Vigilant Ops raised $2M (Seed) on January 4, 2024.
  • BlueMatrix raised an undisclosed amount (Corporate Round) on January 4, 2024.
  • Robin AI raised $26M (Funding Round) on January 3, 2024.
  • Certiverse raised $250K on January 3, 2024.
  • Interfield Global Software Inc. raised an undisclosed amount (Post-IPO Equity) on January 2, 2024.

Who to call at Frugal Technologies, and when

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Company Information

Company

Frugal Technologies

Location

St. Louis, Missouri, United States

About

Frugal Technologies is behind Frugal Propulsion – a cost, fuel and emissions saving system for large vessels, based on dynamic modelling. Frugal Propulsion employs IoT technologies, Big Data and machine learning to collect vessel propulsion data and use this data to create optimal propeller curves across varying vessel conditions. The result is a significant reduction in both fuel expenses and CO2 emissions. Fuel savings are typically around 10%, making the installation of the system very cost-efficient. The company was founded in 2017 by Peter Hauschildt, partner in Hauschildt Marine, Mikkel Elsøe, partner in Zolo international Trading, and system architect and developer Lars Stoustrup.

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Frugal Technologies raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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