Maintenance and facilities management platform Infraspeak raises €10 million

Porto-based Infraspeak has raised €10 million in new capital. The startup offers a top-to-bottom facilities maintenance solution that aims to replace legacy systems by bringing all existing assets, IoT devices and hardware, and third-party software(s) under one umbrella. The funding will be used to further grow the business, primarily through strategic hires, as well as fuel entries into the French and DACH marketplaces. To date, the startup has raised a total of approximately €14.7 million.

Founded in 2015, Infraspeak is active in the highly competitive smart building management space, however with a definitive leaning towards maintenance. Through a series of data collection points, the generation of insights, and the output of predictive maintenance recommendations, the startup is helping technicians and facilities managers ensure minimal downtime and maximum customer satisfaction.

The company counts Siemens, Mitsubishi Electric, Ale-hop, Engie, Penguin FM, IHG Hotels, Hilton Hotels, and Keppel Data Centres amongst its client base, with its technology present in over 50,000 buildings in the hospitality, healthcare, education, transportation, and 'other' sectors.

“The future of facilities management software is around flexibility, intelligence and integration. Flexibility to allow each team to adapt their software to any kind of operations; Intelligence to proactively transform the thousands of data points collected daily into actionable insights for staff and management; and Integration to allow the plethora of people, processes, IoT and software to intercommunicate efficiently with each other,” explains co-founder and CEO Felipe Ávila da Costa.

The €10 million Series A1 round was co-led by Indico Capital and Knight Capital, with existing investors Innovation Nest and Caixa Capital also participating.

Knight Capital’s Arthur Nobel concludes, “The facility management industry is a large yet underexplored market by technology startups. Infraspeak, as the leading European innovator, has managed to build an operating system that enables the facility management industry to act on its digital transformation objectives, ESG goals and digitize the frontline workforce. We are fortunate to back Felipe and Luis, and believe in a future where the facility management ecosystem collaborates on Infraspeak.”