AI-powered sustainability-focused smart building platform Infogrid has raised $90m in a Series B funding round in fresh equity and converting Construction Loan Notes (CLNs).
The funding round included participants such as SoftBank Vision Fund 2, Northzone, Original Capital, Committed Capital, TVC, JLL Spark, and Pictet.
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The company has also raised $30m in lending facilities in the funding round, following a five-fold growth last year.
The proceeds will support the company’s future phases of global expansion, grow its dataset, and functionality of its AI platform.
In addition, the investment will allow the company to cater to its international blue chip clients.
Infogrid CEO Will Cowell de Gruchy said: “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.
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By GlobalData“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.”
Infogrid’s AI-powered building platform automates facilities management and helps avoid carbon emissions, and water and chemical waste while safeguarding structures.
The platform provides real-time building data to property managers, building owners, and office managers, helping them achieve sustainability goals, cut expenses, and boost staff productivity and well-being.
According to Infogrid, its platform is being used by more than 200 global blue chip customers to improve the internal environment and overall sustainability of their facilities.
