Breakthrough Energy Ventures, a packed venture arm, jointly backed by Jeff Bezos, Bill Gates and Michael Bloomberg, has led series A funding round with $18 million (approx INR 128 crore) in 75F, which is a company that gives energy-efficient, IoT-powered wireless building automation solutions.
Also, Building Ventures, Revolution’s Rise of the Rest Seed Fund, and Clean Energy Trust participated in the round.
The funds 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.
Bengaluru-based company claimed that the current investment is the largest investment till date in the energy-efficiency technology category in the Asia-Pacific region.
While, till date, it has raised around $25 million (approx INR 179 crore) since 2012.
The company 75F was founded by Deepinder Singh in 2012. 75F creates smart solutions that harness the power of Internet of Things (IoT) and Cloud Computing to predict, monitor and manage the needs of a building.
The platform embodies its name from the United Nations campaign to raise temperatures in buildings to 75 degrees Fahrenheit to reduce carbon emissions.
Deepinder Singh, CEO of 75F, said, “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, Middle East, and APAC including India, Singapore China, and Australia.”
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.
Startups such as Delta Controls, KMC Controls, SchoolDude, Navigant, FTI Consulting, among others also falls under the similar sky as 75F.