Infogrid raises $15.5M from Northzone to retrofit buildings with IoT
The rise of IoT showed us how new technologies such as AI and smart sensors can help us manage complex systems such as buildings and infrastructure cost-efficiently and at scale.
The main problem with that, is that most of these infrastructures were built way before these technologies existed, so they are not natively compatible with anything “smart”.
Infogrid’s mission is to “Make any building a smart building”.
Their tiny sensors can detect anything from air quality to water conditions, from temperature to occupancy. They can be installed in seconds, their battery lasts 15 years and they are able to regularly upload data to the cloud.
From there, the Infogrid platform can analyse it and deliver customisable reports and alerts. And the best thing about it is that being an end-to-end solution Infogrid doesn’t rely on any pre-existing platforms: it can be installed in any building.
This ambitious company has caught the attention of numerous investors, who were led by early-stage VC fund Northzone in Infogrid’s $15.5m Series A funding Round.
Participating investors include JLL Spark, Concrete VC, The Venture Collective, Jigsaw VC, an unnamed real estate investment group and an unnamed large international asset owner.
Infogrid’s proprietary AI analysis already proved successful for some of the world’s largest prividers of Facilities Management. These include banks, restaurant chains and the NHS.
Infogrid’s end-to-end solution doesn’t only create huge savings in maintenance for these companies, it also protects them from potential liabilities that smart monitoring can prevent, as well as reducing the environmental and social costs of their buildings.
“Until now, the lack of viable and scalable technology has meant that facilities management is one of the last industries to be enhanced by digitization, despite covering the world’s largest asset class. Infogrid’s end-to-end smart building system finally arms organizations with insight to take control and take action. This new era of insight and automation will bring about a positive impact on the efficiencies of businesses, the wellbeing of employees, and the environmental footprint of buildings.”William Cowell de Gruchy, Infogrid Founder/CEO
Jeppe Zink, partner at Northzone also told TechCrunch:
“With the world undergoing the largest wave of urban growth in history, the built environment already generates 39% of annual global carbon emissions. We were instantly drawn to Infogrid for its ability to future-proof buildings in the long-term.”
Working closely with them as part of our FaaS offering, we know that this achievement is thoroughly deserved by the Infogrid team.
To them our most sincere congratulations and best wishes for an ambitious future.