Infogrid, the AI technology company that automates facilities management and makes any building smart, has raised $15.5m Series A funding led by Northzone. Infogrid will use the funding to accelerate expansion – particularly across the US.
The funding will be used to accelerate Infogrid’s breathtaking growth that has already revolutionized facilities management for the world’s largest FM providers, many S&P 500 and FTSE 100 companies, including global banks, supermarkets, restaurant chains, and the NHS. Crucially, the funding will help Infogrid achieve its mission to address the world’s climate crisis by enabling businesses to reduce the environmental and social cost of their buildings while simultaneously benefitting their bottom line and asset values.
Infogrid’s breakthrough platform delivers on the promise of the Internet of Things (IoT), making smart buildings simple, affordable, and scalable. It combines the best real-time IoT sensors available on the market with proprietary AI analysis to translate data into meaningful insight. The output is then used to revolutionize the way we understand and operate buildings.
Managers can make decisions to improve their ESG score and drive energy efficiency, providing major advances to reduce the CO2 output of buildings, which account for 39% of global emissions. For example, for a leading global bank, Infogrid’s system eliminates three metric tons of carbon emissions and thousands of liters of water wastage per building, annually – as well as reducing the time it takes to undertake compliance checks by 81%.
Infogrid has also been essential in enabling organizations to respond to the COVID-19 pandemic. COVID-19 has increased demand for organizations to remotely manage their buildings, gain insights into the volume and movement of people in spaces, and use data to ensure clean and safe environments to comply with social distancing requirements for employees returning to work.
Infogrid can measure everything from the number of people in a room, to air quality and virus risk indicators for the improved wellbeing of employees and customers, to even helping reduce the risk of legionnaires disease in water pipes by automating compliance checks.
Speaking on the funding and Infogrid’s business aims William Cowell de Gruchy, Founder and CEO said “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.
Jeppe Zink, Partner at Northzone said:
“Infogrid’s real genius lies in their device-agnostic, AI-driven approach to making IoT products truly scalable through lowering costs and complexity, which isn’t something we’ve ever seen elsewhere. Coupled with a skilled founding team, we believe Infogrid will become the defining company of its category.”