Image credit: Fahroni via Shutterstock
Infogrid, a London-based platform that uses AI to improve the sustainability of buildings, has raised $90m (£72.4m) in Series B funding.
The Infogrid platform was designed to minimise carbon emissions and water and chemical waste in buildings whilst generating financial returns on suggested sustainability investments.
The company claims its product, which collects data from client buildings, can reduce costs and help hit highly coveted sustainability targets.
“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,” said Will Cowell de Gruchy, CEO of Infogrid.
He said these sustainability and cost-reduction goals could be achieved with simple processes that can be detected by the platform, such as avoiding cleaning unused space too frequently or automating compliance checks.
“Not only does this save crucial dollars in a time when budgets are strained by inflation, but it also prevents wasted carbon, chemicals, and water in a time when the world is strained by climate change,” added Cowell de Cruchy.
The latest investment for Infogrid, which was a combination of equity and debt financing, came from Original Capital, the SoftBank Vision Fund 2, Northzone, TVC, JLL Spark, Committed Capital and Pictet.
“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,” said Sean Wright from JLL Spark
“Infogrid is the only solution in the market that provides the data—and the AI capabilities to harness that data—to take action on building health and sustainability.”
The company’s last funding round came in the form of an £11.5m Series A investment at the end of 2020.