News

Value Of Smart Building Deals Reached $2Bn In Q3 2019

Two diverse approaches to energy efficiency optimization and decarbonization, through leveraging IoT in buildings, gained significant backing this quarter. A US and India based startup, 75F attracted some prestigious investors in September, with Bill Gates, Jeff Bezos, Jack Ma, Richard Branson and Michael Bloomberg participating in a Series A round of $18 million co-led by Breakthrough Energy Ventures and the Oil and Gas Climate Initiative. Deepinder Singh, CEO of 75F, was interviewed in December 2016 by Memoori for the first edition of our Startups and Their Impact on Smart Buildings Report and was selected as one of the 15 Startups to Watch in 2017. It is also the first building-focused investment for the Oil and Gas Climate Initiative, who hope their investment will help reduce emissions from buildings, which account for 40% of total energy consumption. 75F offers a vertically-integrated smart building solution that includes wireless sensors, equipment controllers and cloud-based software, delivering predictive, proactive building automation right out-of-the-box. The simple-to-install smart building automation technology leverages machine learning to make facilities more comfortable while cutting energy use by 30% to 50%. Minibems, a Scottish startup, offers an Internet of Things and smart heating solution designed to decarbonise the UK heat network market. Minibems raised its latest investment round from Amsterdam-based SET Ventures and early-stage investor, Ascension Ventures in September 2019.

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