Infogrid Closes $90m Series B Funding

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• Infogrid Closes $90m Series B Funding

12 April 2023

Infogrid has received funding from Original Capital, SoftBank Vision Fund 2, JLL Spark and several others.

The smart building technology company has raised $90 million in fresh equity and converting CLNs, and a further $30 million of debt facilities in Series B funding after 5x growth in 2022. Funding came from Original Capital, SoftBank Vision Fund 2, Northzone, TVC, JLL Spark, Committed Capital, Pictet, and several others.

The new financing will fuel the next phase in Infogrid’s growth plan, including building up its dataset and expanding its sales and customer success teams.

“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 at Infogrid.

“This created a clear need for solutions that lower costs while reducing the environmental and health damage caused by commercial real estate; Infogrid provides exactly this solution. Achieving this goal can be as simple as using technology to avoid cleaning unused space every day, or to automate compliance checks for legionnaires disease prevention. 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. It’s a win-win for clients and the planet, and it’s heartening to see big business embracing sustainable solutions.”

“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,” added 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. We’re thrilled to be alongside Will and his team on their mission to bring digital transformation to the commercial sector, both as an investor and global commercial partner.” 

Picture: a graphic showing two arms: one holding a coin and the other holding a lightbulb. Image Credit: Pixabay

Article written by Ella Tansley | Published 12 April 2023

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