U.S. firm PassiveLogic, a startup developing a building controls platform, raised $16 million in a funding round.
Venture capital funds Keyframe Capital and Addition led the Series A round, while other investors included RET Ventures, A/O Proptech, and NREP, representing the commercial real estate industries in the U.S. and Europe.
?PassiveLogic addresses a critical and large market need that has been consistently underserved by existing building automation companies. Without open, flexible controls systems as the backbone for building systems, the promise of a highly efficient or “smart” building is simply out of reach. Many buildings have been surviving with insufficient automation solutions for years ? creating added costs, energy waste, and underwhelming tenant experiences,” said John Rapaport of Keyframe Capital. “PassiveLogic has the controls architecture, unique autonomous building technology, and ease of configurability to give building operators the controls they have been promised for years to close those efficiency gaps, at a cost that will work for all building sizes. We’re really excited about what this can mean for building operators, tenants, and regulators at this tipping point of the digitalization of buildings, and to play some small role in helping PassiveLogic follow that vision.”
PassiveLogic?s platform enables autonomous systems technology for any building, architecture, or controlled system, according to the company. The company?s Autonomy Studio software allows users without programming expertise to graphically define their own system using the company?s digital twin technology. These digital twins provide virtual analogues to real-world objects, powered by the company?s artificial intelligence IP.
This technique enables real-world objects to understand their own behavior and interactions and learn in place while they operate, according to PassiveLogic; Since there is no programming code required, automation projects can be done in one day or less, it claims.
PassiveLogic?s autonomous platform is built into their Hive edge controller that enables connectivity to building systems. Within a building, Hive controllers work together to provide an edge platform for sensors, equipment, and IoT ? allowing whole-building resilient control without requiring cloud connectivity.
The Hive Digital Twin engine understands how a building?s equipment and systems interact, allowing local in-building AI to make real-time control and management decisions that co-optimize comfort, maintenance, efficiency, and operational costs.
“There has been a lot of talk about smart buildings in recent years, but when people say ‘smart’ they really just mean connected,” said Troy Harvey, CEO and founder of PassiveLogic. “Our Digital Twin technology makes buildings truly intelligent and self-managing, taking them beyond conventional controls or other AI cloud add-ons in the marketplace.”
In pilot projects, PassiveLogic?s approach demonstrated 30% energy savings, as well as 90% labour savings in programming installation, and commissioning compared to conventional solutions.
PassiveLogic?s platform can be installed in any building or campus, both in new construction and retrofit applications.