Knoxville, TN – Aldis, a sustainable energy company commercializing a novel advanced vision processing software platform, GridSmart, has successful closed its Series B financing. Proceeds from the round led by Murphree Ventures Partners (MVP) will drive broader distribution of GridSmart, a cost-efficient solution used in advanced infrastructure, congestion management and security applications across the world.
Steve Dauphin, a General Partner at MVP will join the Aldis Board of Directors along with existing investors Battelle Ventures, Meritus Ventures and Innovation Valley Partners, who also participated in the round. Shortly after closing the transaction, Aldis announced its first major sales in the Australian and Latin American markets.
Dauphin commented that “MVP focuses on solid business fundamentals and not fads; Aldis is an outstanding addition to our portfolio because the GridSmart platform is game changing technology that we are only beginning to realize the vast benefits and applications of. Aldis will be an industry standard for years to come”.
Aldis Chairperson, Glenn Kline added that “MVP is an excellent addition to the Aldis family. MVP appreciates the value the GridSmart platform and the significant impact that Aldis will achieve on sustainability as we reduce vehicle traffic congestion while improving safety. We are pleased to have Steve Dauphin join the Aldis board and, based on his outstanding experience and industry network, look forward to his active involvement to support Aldis’ continuing global progress”.
About Murphree Venture Partners
Murphree Venture Partners is a growth equity firm that makes investments in entrepreneurial enterprises with high-growth potential. MVP prefers companies with revenue traction in the $3 million to $30 million range. They also prefer companies whose revenues can be grown both organically and through add-on acquisitions. The firm seeks to align itself with entrepreneurs and management groups with whom they can develop strong working relationships, and with whom they can act in concert as owners/investors. They invest in the Sun Belt region of the U.S. from their four offices in Houston, Austin and Birmingham.
