Press release November 5, 2019

Egain Strengthen Machine Learning Capabilities and Announce New Team Members to Support the Quest to Solve One of Humanity’s Most Significant Challenges; Climate Change.

Egain is pleased to announce its recent hires of Mitra Hajigholi and Raghunath Vairamuthu, who will join the Egain Technology team as Machine Learning Engineers and Data Scientists.

KUNGSBACKA – November 5, 2019 — Egain is pleased to announce its recent hires of Mitra Hajigholi and Raghunath Vairamuthu, who will join the Egain Technology team as Machine Learning Engineers and Data Scientists.

Mitra comes to Egain from Acando, where she today work with Advanced Analytics and Machine Learning, traditional BI and data warehousing building solutions for advanced analytics and predictions. Mitra has a long track record from Chalmers University of Technology as a Researcher and Ph.D. Candidate, where she analyzed spectral- and image-data with the help of mathematical models, statistics, energy transport simulations, and programming. Early in her career, Mitra has also worked for CERN in Switzerland and NASA in the US. Mitra is a Board Member at Girls in Tech (GIT), a global non-profit company whose purpose is to influence gender differences in technical professions and startups by engaging and educating women who have a great interest in technology and starting their own.

Raghunath comes to Egain from advanced data science work at Nvidia, a company in the frontiers of parallel, visual, and AI computing, where he made a significant contribution to Nvidia’s predictive modeling estimating GPU power performance and automated RTL design for power features. In the last years, he’s studied for a Master’s Degree in Machine Learning at the Computer Science Department at the Royal Institute of Technology in Stockholm. His thesis at Ericsson is focused on Reinforcement Learning for adaptive antenna tilt control in LTE networks.

“I am pleased to welcome Raghunath and Mitra to the team,” said Jon Åkerström, CTO, Egain. Having them join our company demonstrates the attractiveness of Egain. Here, talents are not only allowed to work on state-of-the-art technology in booming technology and market categories, but they get to do that in a greater context – helping humanity solve one of its most significant challenges; climate change.”

“Egain pioneered smart algorithms based on building physics and external factors influencing buildings and is today one of Europe’s leading technology companies providing smart cloud solutions to help Property Owners take digital control of their building stock,” said Sven-Olof Husmark, CEO, Egain. Bringing innovations to the market is an essential part of our strategy. We are investing for the future and our customers already today see this in terms of new, smart features in our platform being released on a regular basis. With Raghunath and Mitra in place, we will further accelerate our development within this critical area.”

“We are seeing several challenges unfolding simultaneously; environmentally, socially, and with technology disrupting industries,” said Tom Even Mortensen of Summa Equity and Chairman of the Board at Egain. We believe some of humanity’s biggest challenges are also our best opportunities. Our ambition is to promote a more sustainable society by making sound investments in people and companies that solve challenges and helping them to outperform. Technology plays a fundamental role in transforming societies; therefore, we are happy to see talents joining Egain, to promote the acceleration of innovations that fuels meaningful change, “ concludes Mortensen.

For further information, please contact:
Sven-Olof Husmark, CEO, Egain Group
sven-olof.husmark@egain.io
+46 73 420 3740

About Egain
Egain is a leading technology company within the energy and comfort optimization of residential buildings. The company develops IoT solutions, mobile apps, and AI-based software that visualizes building opportunities and automatically optimizes the energy consumption leading to lower energy consumption, improved buildings’ environmental footprint, optimized living comfort and, increased property valuations. Egain was founded in 2003 with HQ in Kungsbacka, Sweden, and is today owned by Summa Equity. With offices in five European countries, Egain is currently serving more than 5,000 buildings and 300,000 apartments in 11 countries. www.egain.io

About Summa Equity
Summa Equity is a lower mid-market Private Equity firm in the Nordics. It is a megatrend driven, thematic investment company focusing on Resource Efficiency, Changing Demographics, and Tech-enabled Businesses. Summa Equity is amongst the first Private Equity firms to commit to the UN Sustainable Development Goals, and its investments are aligned with these. Summa Equity was founded in 2016. www.summaequity.com

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