75F, an IoT-based Building Management System (BMS) company based in Minneapolis, announced a close of an additional $4.75 million, bringing 75F’s total Series A to just under $23 million.
The additional funding, which was provided by a syndicate led by WIND Ventures, will allow the firm to further expand innovations in energy savings and market reach.
The firm noted that commercial buildings are the fourth-leading contributor to greenhouse gas emissions globally. HVAC and lighting account for 65% of the total energy consumption in commercial buildings, and traditional systems can consume a lot of energy as they are reactive and depend on system operators to manually tweak them.
75F said that its automation solutions for buildings deliver energy savings and reduce CO2 emissions. The 75F solution includes wireless sensors, equipment controllers, and cloud-based software that delivers predictive HVAC and lighting automation. 75F’s wireless sensors, placed in each zone, capture millions of data points daily, the company said. These data points are uploaded to the cloud via a 900 MHz wireless mesh network and combined with a live weather stream and forecast data so 75F’s AI can predict optimal control strategies.
“At its core, 75F exists to simplify and modernize a complex and dated industry for the betterment of our world,” said Deepinder Singh, founder and CEO of 75F. “WIND is instrumental to 75F’s entry and success in new geographical markets.”
“We are thrilled to be a part of the 75F journey,” said Brian Walsh, head of WIND Ventures. “The company’s full-stack, simple, yet low-cost building automation solution is the next-generation of building automation systems. Today, most building automation solutions in existence are cost-effective for only the largest, most sophisticated buildings, which represent a very small percentage of all buildings globally. For emerging regions like Latin America, the 75F product-market fit represents a leapfrog opportunity for most of the market from small to very large, so we are excited to work with the team to bring the 75F solution into the region.”
The company leverages IoT, cloud computing and machine learning for data-driven, proactive building intelligence and controls for HVAC, lighting and energy optimization.