Infogrid, a London, UK-based startup that uses AI to collect and analyze data on things like air quality, occupancy, and energy consumption, raised $90 million in a Series B funding round led by Northzone.
The funds will be used for product development, strategic hires, and customer acquisition. Infogrid's platform gathers and analyzes data from IoT sensors to help property managers optimize the performance of their buildings.
William Cowell de Gruchy, Infogrid’s CEO, says. “Now was the time to raise the capital and use it to drive our expansion,” De Gruchy said. “We are coming off of 5x growth last year and the market is strongly calling for our solutions … We opted for equity because alongside capital, we want strategic partners to help us scale to the next level and we have both VCs and clients and partners investing. This brings value far greater than even the cash.”
Infogrid’s platform, powered by AI, gathers and analyzes data from Internet of Things (IoT) sensors to help property managers and owners optimize the performance of their various buildings—at least in theory.
The startup's AI-powered technology can measure domains such as air quality, cleaning needs, energy usage, and CO2 levels.
Company: Information Grid Limited
Raised: $90.0M
Round: Series B
Funding Month: April 2023
Lead Investors: Northzone
Additional Investors:
Company Website: https://infogrid.com/
Software Category: Building Management Software
About the Company: Founded in 2018 by William Cowell de Gruchy, Infogrid is an AI technology company that automates facilities management and makes any building smart. The company uses AI and IoT sensors to collect and analyze data on various aspects of buildings such as air quality, occupancy, and energy consumption. Infogrid's AI-powered platform gathers and analyzes data from the smartest IoT technology to drive its mission of making every building healthy, efficient, and sustainable. The company’s platform helps property managers and owners optimize the performance of their buildings, providing context-specific data and analytics to help them make adjustments impacting sustainability scores and operating costs.
Source: https://techcrunch.com/2023/04/11/infogrid-raises-90m-for-its-ai-powered-iot-building-management-platform/