infogrid Secures $15.5M Funding for Smart Building Retrofits

Infogrid, a company specializing in Internet of Things (IoT) technology that upgrades existing structures into intelligent buildings, has secured $15.5 million in funding. This Series A investment was spearheaded by Northzone, and included contributions from JLL Spark, Concrete VC, The Venture Collective, Jigsaw VC, one unidentified real estate investment firm, and a major international asset holder. Reports suggest that Starwood Capital, a firm concentrating on property investment, may be among the investors.

Infogrid’s technology integrates IoT sensors with unique artificial intelligence analytics, and has demonstrated positive results in modernizing facilities management (FM) operations for prominent organizations. These include major global banks, supermarket chains, restaurant groups, and the National Health Service (NHS). Infogrid is also committed to helping companies lessen the environmental and societal effects of their buildings, while simultaneously improving financial performance and property worth.

The Infogrid system is capable of identifying instances where refrigerated goods are stored at incorrect temperatures, assessing air quality, and monitoring for potential health hazards like Legionnaires’ disease within water systems.

William Cowell de Gruchy, the founder and CEO – and a veteran of the British Army – explained: “Facilities management has largely remained untouched by the benefits of digitization, despite representing the world’s most substantial asset category, due to a previous absence of practical and widely applicable technology. Infogrid’s comprehensive smart building solution now provides organizations with the data they need to manage and improve their operations. This advancement in data analysis and automation will positively influence business performance, employee health, and the environmental impact of buildings.”

Jeppe Zink, a partner at Northzone, stated: “As the world experiences an unprecedented period of urban expansion, buildings are currently responsible for 39% of worldwide annual carbon emissions. We were immediately impressed by Infogrid’s potential to prepare buildings for the future and ensure their long-term sustainability.”