Singapore-based energy technology startup Ampotech has raised S$1.78 million ($1.28 million) in Pre-Series A funding to further its international expansion.

The funding round was led by Earth Venture Capital (Earth VC), a global climate tech venture fund with Southeast Asia focus, Ampotech said in a statement on Wednesday.

KSL Maritime Ventures, the venture capital arm of The Kuok Maritime Group, also participated in the round together with existing Ampotech investors Silicon Solution Ventures and SEEDS Capital.

Following the Pre-Series A funding, Ampotech plans to open its first international office in the coming months, while bringing its solutions into new industry verticals beyond its base in commercial real estate.

The firm expects to raise its Series A round in 2023 and is in preliminary discussions with potential investors.

“We look for strategic investors that are passionate about energy and sustainability, so Earth Venture Capital and KSL Maritime Ventures are ideal partners” said Ampotech Chief Executive Officer and Co-Founder William Temple.

“With the support and resources from Earth VC and KSL Maritime Ventures, we are excited to begin our expansion into Vietnam, and to pursue energy management and sustainability opportunities within The Kuok Group’s real estate and marine businesses,” he added.

Ampotech is an energy technology company based in Singapore that develops internet of things (IoT) hardware and AI-enabled software to help businesses collect, analyse, and integrate building and machine electricity usage data for sustainability reporting, benchmarking, automation, and facilities management.

The firm’s products and software are trusted by industry leaders in the energy and real estate sectors, with thousands of devices deployed in commercial, residential, and industrial buildings.

Originally a spin-off from an A*STAR and University of Illinois research institute, Ampotech previously raised S$1 million ($76,000) in seed funding in 2019 to bring its artificial intelligence and internet of things enabled building energy management solutions to market in Singapore and India.

The firm currently counts leading energy companies such as Sunseap as clients.

“Today, we are proud to back Ampotech. Their intellectual, dynamic and dedicated team shares our aspiration to help buildings become smarter, more sustainable and more positive for the Earth,

“Buildings are changing our lives for the better, but they also consume massive amounts of energy, which threatens our climate. To tackle that issue, we have Ampotech as the first of many tenacious and energetic climate warriors that we will support globally.” said Tien Nguyen, the Founding Partner of Earth VC.

Earth VC is a global venture capital firm investing in climate-tech solutions, with focus on the Southeast Asia region.

The firm invests in seed to series A startups in artificial intelligence, machine learning, robotics, new materials, new energy and the internet of things that serve the goals of switching to renewable energy, abandoning fossil fuel and increasing the level of carbon storage.

“KMV incubates and invests in high growth start-ups with purposeful and innovative solutions. We are impressed by Ampotech’s vision, capabilities and track record and look forward to Ampotech delivering positive impact towards optimizing energy management in the maritime industry,” said Bernard Liew, Director, KSL Maritime Ventures.

KSL Maritime Ventures is the venture capital unit of the Kuok family’s investment-holding company Kuok (Singapore) Limited.

As an appointed co-investment partner of SEEDS Capital, KSL Maritime Ventures pursues sustainable solutions with a focus on renewables, fintech and vessel technologies, taking a long-term view towards creating new global maritime platforms.

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