- 75F — a market leader in wireless building automation for commercial buildings — announced it completed $18 million in Series A funding co-led by Breakthrough Energy Ventures and Climate Initiative
75F — a global market leader in wireless building automation for commercial buildings — announced it has completed $18 million in Series A funding co-led by Breakthrough Energy Ventures and Climate Initiative with participation from Building Ventures, Revolution’s Rise of the Rest Seed Fund, and Clean Energy Trust.
Founded in 2012, 75F has raised $25 million to date. This is the first investment for Oil & Gas Climate Initiative in the buildings space. &5F is known for aligning with Breakthrough Energy Ventures’ work to significantly reduce emissions from buildings — one of the largest contributors to climate change.
“We are honored to have this incredible group of investors backing our vision and helping 75F take an enormous step as the global leader in the industry,” said 75F CEO Deepinder Singh. “This strategic funding will allow 75F to invest in key positions, continue to innovate our product and customer solution, and strengthen our partner network across North America, APAC, Middle East, China, and Australia.”
As traditional building controls systems are overbuilt and require extensive resources to install, setup, custom program, and maintain which creates high costs of acquisition and ownership. And the 75F system reduces install time, makes occupants more productive and comfortable, while cutting costs for facility managers.
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. It was designed to be simple enough for elementary students to install and configure.
“Six percent of global and 12 percent of U.S. greenhouse gas emissions released into the atmosphere come from buildings,” added Carmichael Roberts of Breakthrough Energy Ventures. “We know we can combat this by designing the next generation of buildings, but we can also make significant gains by upgrading existing real estate with smart technology. 75F has created a unique software and hardware solution powered by machine learning that reduces energy costs and emissions at the same time.”
The benefits include energy cost savings of 30% to 50%, improved air quality, faster return on investment, weather forecasting/increased comfort, self-optimization, and scaled deployment. And the funds from this round will be used for scaling support and operations, investing in R&D, and the upgrading of office locations in both the Twin Cities and Bangalore, India along with adding more satellite office locations.
“Reducing emissions across all sectors is crucial to meeting our climate goals. 75F’s innovative smart building solution is easy to install, provides savings for building operators and cuts energy loss from buildings. These types of scalable technologies are needed if we want global adoption that can make a significant impact on carbon,” explained OGCI Climate Investments CEO Pratima Rangarajan.
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