USM Maryland Momentum Fund Invests $250,000 in Dynamhex
Baltimore, Md. (March 11, 2021) – The University System of Maryland (USM) Momentum Fund (MMF) has invested $250,000 in Dynamhex, Inc., a company that provides complex energy consumption and carbon footprint data for corporate, utility and government entities. The MMF investment is a part of a $1.5MM seed round, which includes Intelis Capital, the Exelon Climate Change Investment Initiative, the Chesapeake Bay Seed Capital Fund, and KCRise Fund.
Dynamhex addresses the needs of thousands of entities that seek to develop, organize, and meet their environmental goals. The Dynamhex platform uses artificial intelligence to give carbon emission reduction recommendations that are personalized to each customer.
The Dynamhex platform also helps organizations monitor the resulting carbon footprint impacts of recommendations that are implemented, such as energy efficiency upgrades, renewable energy credit purchases, or on-site renewable energy additions.
“Cities, corporations, and residents are demanding solutions for climate change mitigation and smart city initiatives. Dynamhex deploys digital platforms that play a strong role in reducing carbon footprints,” said Sanwar Sunny, Founder and CEO of Dynamhex. “We created a tool that is more adaptive and realistic, using large data sets to help customers set better goals and meet them more quickly.”
By using sophisticated data and analytics modeling, Dynamhex examines important measures such as carbon-dioxide reduction and operational savings for organizations. For cities and corporations with multiple locations, Dynamhex’s data are especially valuable to pinpoint the most problematic sites and identify their most effective strategies for improvement. Already, Dynamhex has provided data to Duke Energy, Constellation Energy, the National Resource Defense Council, and their clients.
“Carbon footprint measurement and management is important, and we cannot manage what we cannot measure. As climate change is one of the most important problems of our lifetimes, we are happy to support Dynamhex, which is helping organizations make better decisions about how to meet their climate change reduction goals,” said Claire Broido Johnson, managing director of the Momentum Fund.
Sanwar Sunny founded Dynamhex in 2019. He is an Assistant Professor of Entrepreneurship at the University of Baltimore. “We are very pleased that the USM Momentum Fund has decided to invest in Dr. Sunny's company," said Murray Dalziel, dean of the Merrick School of Business at the University of Baltimore. “As one of Maryland's leading business schools for professionals and entrepreneurs, we know the importance of creating knowledge that has impact. Not only does our community benefit from being taught by an active entrepreneur like Dr. Sunny, our world benefits from the effects that his company will have on battling climate change and growing a greener economy.”
The USM Maryland Momentum Fund provides investment for promising technology ventures born out of USM’s 12 institutions. The Momentum Fund helps early-stage companies move beyond grant funding andearly stage seed investorsto position themselves for commercial launch or to reinforce commercialization at the early revenue stage. The Momentum Fund is continuing to invest in companies affiliated with the USM despite the COVID-19 pandemic and encourages applications through the Fund website.
About the USM Momentum Fund
The Maryland Momentum Fund is an initiative of the University System of Maryland (USM) to provide late seed investment funding for promising technology ventures that come out of any of the 12 constituent USM institutions, its research parks, and its students, faculty, or graduates. With a $10M commitment from the USM already in place, the Fund co-invests with venture capitalists, foundations, and angel investors.
The Maryland Momentum Fund was established by the USM Board of Regents to support promising commercial opportunities arising from advances in research and intellectual property at USM campuses, and its portfolio companies include: MF Fire, NextStep Robotics, the North American Wave Engine Corporation, Zest Tea, PaverGuide, Retrium, Veralox Therapeutics, Gemstone Biotherapeutics, Neoprogen, Minnowtech, ARMR Systems, Infercabuary, Datakwip, pathOtrak, KaloCyte, MiRecule, N5 Sensors, VisiSonics, Voxy EngGen, and Dynamhex. The Fund is designed to create returns and support USM’s most innovative ideas as they enter the marketplace. Learn more at www.momentum.usmd.edu.
Dynamhex is a deep-learning optimization and resource planning platform for corporate, utility and municipal customers looking to set and meet climate targets. Our proprietary technology renders AI-based analytics in cloud, hybrid, and multi-cloud environments for decision-makers and clients through a subscription model.
The Dynamhex software platform ingests, monitors and visualizes complex, multilevel energy consumption and emissions data for enterprise and municipal clients. Dynamhex integrates datasets at varying geo-spatial resolutions and enables all users to set more nuanced, and holistic climate and energy goals. With big data analytics, and AI aggregation, Dynamhex autonomously finds inefficiencies in energy systems using an AI engine for reducing costs and emissions.
Contact – Dynamhex, Inc
Sunny Sanwar, CEO
Phone: 1 (877) 369-3667
Contact: Mike Lurie