Infogrid secures £72.4m Series B funding to scale its smart building platform.
The financing package includes equity and debt from backers including Original Capital and SoftBank Vision Fund 2.
Infogrid provides building intelligence and analytics solutions using artificial intelligence and data to help real estate organisations improve efficiency and sustainability. The company serves major real estate owners including Hilton Worldwide and Bridge Commercial Real Estate.
Infogrid has secured £72.4m in Series B funding, comprising fresh equity, converting CLNs, and debt facilities. The round was supported by a consortium of backers including Original Capital and SoftBank Vision Fund 2 following a period of rapid expansion. The capital will be deployed to scale the firm internationally and enhance its artificial intelligence capabilities.
The business provides real-time data analytics for commercial real estate to help managers lower carbon output and meet environmental targets. Demand has risen as organisations navigate rising energy costs and stricter climate regulations.
From the founder
"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,"
Will Cowell de Gruchy
CEO at Infogrid
Investor perspective
"Building sustainability and health are mission-critical today, yet most commercial buildings live in the dark ages with no data or way to measure basic things like air quality and energy consumption,"
Sean Wright
JLL Spark
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Invest in sales and marketing
Investors
Original Capital
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SoftBank Vision Fund 2
Northzone
TVC
Sean Wright
JLL Spark
Committed Capital
Pictet