ABB has completed its second investment in Pratexo, a US-based provider of edge-to-cloud software solutions, strengthening the ongoing partnership between the two companies. This move comes as businesses increasingly transition from centralized cloud systems to hybrid edge-to-cloud technologies for more efficient operational management. The financial terms of the investment remain undisclosed.
Stuart Thompson, President of ABB’s Electrification Service Division, explained, “This further investment is focused on delivering more value to customers through digital technologies that provide real-time data and insights, enhancing operational efficiency and sustainability.” He added that the collaboration with Pratexo is enabling advanced electrical asset management, empowering businesses to process data locally for quicker decision-making.
The new investment will facilitate the creation of digital tools designed to detect potential issues early, reduce downtime, and extend the life of critical assets. These solutions will help industries in utilities, infrastructure, and other sectors better manage energy supply and demand, supporting a more reliable and sustainable energy system.
Pratexo CEO Blaine Mathieu noted, “Since ABB’s initial investment, we’ve moved from technology exploration to directly co-developing solutions that ABB plans to bring to market in 2025 and beyond.” As part of this partnership, ABB has gained a board seat at Pratexo, held by Eric Deschenes, Head of Global Marketing & Sales for ABB Electrification Service.
Pratexo, which was recognized as one of the winners of ABB Electrification’s 2022 Startup Challenge, is a member of it’s SynerLeap innovation hub. The partnership marks it’s seventh follow-on investment in 2024, as part of the company’s broader strategy to support startups in sectors like electrification, robotics, and automation. Since its inception in 2009, the company has invested approximately $450 million into innovative companies that align with it’s mission to drive productivity, sustainability, and efficiency.
Founded in 2019, Pratexo specializes in providing scalable and reliable edge-to-cloud solutions for critical infrastructure. Its flagship product, Pratexo Power Guardian™, ensures the resilience and efficiency of electrification systems, supporting industries like energy, utilities, and datacenters.
