Infogrid Raises $90M to Revolutionize Building Management with AI-driven Technology
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Infogrid, an AI-powered building monitoring startup, has raised $90 million in Series B funding to revolutionize building management with AI-driven technology.
The London-based company uses AI technology to monitor and evaluate air quality, occupancy, and energy consumption.
The funding round was led by Northzone and AO Proptech, with an additional $30 million in debt facilities provided by several other investors.
The investment will be used to develop new products, hire strategic personnel, and expand customer acquisition efforts.
Infogrid, an AI-powered building monitoring startup, has secured $90 million in Series B funding. The London-based company monitors and evaluates air quality, occupancy, and energy consumption by using AI technology.
Northzone and AO Proptech led the funding round. Apart from the $90 million in equity and converted credit-linked notes, the company received an additional $30 million in debt facilities provided by Northzone, TVC, JLL Spark, Committed Capital, Pictet, Original Capital, SoftBank Vision Fund 2, and other undisclosed parties.
The investment will be divided into several crucial business areas, such as developing new products, hiring strategic personnel, and expanding customer acquisition efforts.
Infogrid’s IoT platform analyzes sensor data to optimize building performance for property managers and owners. It tracks key domains like occupancy, air quality, and cleaning requirements while monitoring energy usage and CO2 levels. By training on almost 4 billion data points monthly, Infogrid’s AI is also gradually improving through user feedback.
The London-based company was founded in 2018 by William Cowell de Gruchy. During his experience working in the advisory firm Drystone Strategy, de Gruchy noticed a lack of real-time digital data and visibility, as well as health risks and environmental concerns in buildings and facilities within these companies.
“When I asked why people weren’t using current-day technologies — e.g. cloud computing, cellular connectivity, and sensors — to solve this issue, they repeatedly answered in the same way; it was too complex and too expensive. I set out to answer that problem and defeat the incumbent solution — the clipboard — and that’s the seed that became Infogrid today,”de Gruchy told TechCrunch.
Infogrid’s mission is to address operational inefficiencies and fix the data black hole. The firm competes with companies like BrainBox, Aquicore, and Sidewalklabs’ Mesa in the building management space.
According to de Gruchy, Infogrid’s typical customers seek to address facility management challenges, such as avoiding unnecessary cleaning, complying with legionella regulations by preventing unnecessary tap flushing, and meeting environmental, social, and governance reporting requirements.
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