Google X spinoff Flux raises $8 million
Google X, the research and development arm of Google Inc (NASDAQ:GOOGL) that works on “moonshot” projects, spun out a company called Flux. Flux has now raised $8 million in Series A funding led by DFJ with participation from Google Ventures, Borealis Ventures, and Andreessen Horowitz. Flux is developing collaborative software to make it easier for designing buildings cheaper and more sustainable.
“The power required to heat, cool, light, and power devices in the places we live and work is responsible for 40% of our carbon emissions. Much of this power is wasted due to inadequate design, antiquated technology, and poor construction quality,” stated Flux co-founder and architect Michelle Kaufmann.
The four founders of the company spun out of Google X around two years ago. Flux will continue developing software and expects to release it publicly in 2015.