Seattle-based artificial intelligence startup Phaidra announced Tuesday it has raised $12 million.
With the funding, Phaidra has now raised $60.5 million since its 2019 founding. The round builds on a $25 million raise in 2022.
"We're on a mission to revolutionize how data centers are managed with an AI-powered control system that not only adapts in real time, but also continuously learns and improves," Phaidra co-founder and CEO Jim Gao said in a news release.
Phaidra's technology aims to help clients efficiently run data centers by reducing the energy needed to cool these facilities. According to the company, its technology learns and improves over time. Phaidra also provides facilities' performance data.
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Phaidra said it has about 100 employees. On its website, the company lists open roles in customer success, engineering, research and security.
Index Ventures led the round. The London-based venture capital firm has invested in well-known tech brands such as Dropbox, Robinhood and Slack.
Earlier in his career, Gao spent more than five years at Google, according to his LinkedIn page. He then worked more than two years at the Google AI research lab DeepMind before launching Phaidra. According to a release, Gao and Vedavyas Panneershelvam, Phaidra's co-founder and chief technology officer, helped reduce the energy needed to cool Google's data centers by 30%.
Katie Hoffman, a former manager at Ingersoll Rand, is also part of Phaidra's founding team, serving as chief operating officer.
Phaidra's other investors include Starshot Capital, Helena, Ahren Innovation Capital, Flying Fish, Character, Section 32 and billionaire Mark Cuban.
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