London-based Infogrid has raised $90 million in a Series B round. The new timber is expected to help the company expand, particularly in the areas of its dataset as well as upping the functionality of its building intelligence platform.
Infogrid’s $90 million Series B round was comprised of equity and converted credit-linked notes, as well as an additional $30 million in debt facilities provided by Original Capital, SoftBank Vision Fund 2, Northzone, TVC, JLL Spark, Committed Capital, Pictet, and several other undisclosed parties.
Partnered with IoT and sensor providers including Airthings, butler, and Haltian, you might say that Infogrid is the brain of that internet of things, harnessing all the incoming data, running it through a healthy dose of AI, and outputting a series of optimisations and sustainability practices that are not only saving building owners, facility, and workplace managers cold hard cash but also helping them meet sustainability targets and improve employee productivity and well-being.
“Sustainability and reducing costs are paramount concerns for our clients today. In the aftermath of Covid there has been a pincer movement of inflation and climate pressures on businesses, leading to widespread concern over the cost and carbon emissions of owning and operating commercial buildings,” commented Infogrid CEO Will Cowell de Gruchy.
“This created a clear need for solutions that lower costs while reducing the environmental and health damage caused by commercial real estate; Infogrid provides exactly this solution. Achieving this goal can be as simple as using technology to avoid cleaning unused space every day, or to automate compliance checks for legionnaires disease prevention. Not only does this save crucial dollars in a time when budgets are strained by inflation, but it also prevents wasted carbon, chemicals, and water in a time when the world is strained by climate change. It’s a win-win for clients and the planet, and it’s heartening to see big business embracing sustainable solutions.”
According to the startup, they count over 200 global blue-chip organisations amongst their customer base.
Lead image: Denys Nevozhai