Via News Release
“BURNSVILLE, Minn., Sept. 4, 2019 /PRNewswire/ — 75F Inc., a global market leader in wireless building automation for commercial buildings, today announced it has completed an $18M Series A round of financing co-led by Breakthrough Energy Ventures and Climate Initiative with participation from Building Ventures, Revolution’s Rise of the Rest Seed Fund, and Clean Energy Trust. The company, founded in 2012, has raised a total of $25M to date.”
This marks the first investment for Oil & Gas Climate Initiative in the buildings space, and 75F aligns with Breakthrough Energy Ventures’ work to significantly reduce emissions from buildings, one of the largest contributors to climate change.
“We are honored to have this incredible group of investors backing our vision and helping 75F take an enormous step as the global leader in the industry,” said Deepinder Singh, CEO for 75F Inc. “This strategic funding will allow 75F to invest in key positions, continue to innovate our product and customer solution, and strengthen our partner network across North America, APAC, Middle East, China, and Australia.”
Traditional building controls systems are overbuilt and require extensive resources to install, setup, custom program, and maintain which creates high costs of acquisition and ownership. The 75F system reduces install time, makes occupants more productive and comfortable, while cutting costs for facility managers.
75F offers a vertically-integrated smart building solution that includes wireless sensors, equipment controllers and cloud-based software delivering predictive, proactive building automation right out-of-the-box. Literally easy enough for elementary students to install and configure, 75F lowers install time and related costs. Funds from this round will be used to scale support and operations, invest in R&D, upgrade office locations in both the Twin Cities and Bangalore, India, and open additional satellite office locations. 75F recently filled key marketing, supply chain, and finance leadership roles in the U.S. as well as a finance leadership role in APAC. The company is currently recruiting for sales, software engineers, and product engineers as well as service, support, and supply chain associates in both the U.S. and APAC.