What to know about the relaunch of the A series from 75F:
- 75F, the designer and manufacturer of Bloomington-based IoT building management systems, has closed its Series A funding round for a total of $ 28 million
- The sprint to finish was led by Next47 VC, a venture capital arm of German industrial firm Siemens
- According to the Star Tribune, CEO Deepinder Singh declined to say the overall value of 75F or whether the latest increase positioned Siemens as a potential buyer.
The quote: Deepinder Singh, Founder and CEO of 75F
“We are honored to have the support of world leaders like Siemens. We want every commercial building to have the technology to operate efficiently and affordably. My belief as an entrepreneur has always been that we need to turn market leaders into partners – in doing so, we can accelerate the adoption of truly innovative technologies in the industry.
For more information, read the press release below. Also, don’t miss our full interview with Deepinder Singh on The tech.mn Podcast.
MINNEAPOLIS, July 15, 2021 / PRNewswire / – 75F, the global leader in IoT-based building automation technologies to optimize indoor air quality and energy efficiency in commercial spaces, today announced an investment by Siemens AG. Next47, the global Siemens-backed venture capital firm, led the investment on behalf of Siemens Smart Infrastructure. The latest 75F Series A inflow brings the Minneapolis-based company’s total funding to $ 28 million. Next47 joins a prestigious group of investors who have supported 75F, including Bill Gates’ Breakthrough Energy, OGCI Climate Investments and WIND Ventures, among others.
“This investment signals a broader industry shift towards energy efficiency and technologies that make those savings available to more customers,” said Henning Sandfort, CEO of Building Products at Siemens Smart Infrastructure. “The 75F wireless solution is easy to install and implement, offers fully integrated AI and analytics, and can help businesses, large or small, meet their energy or carbon reduction goals. “
75F’s complete vertically integrated solution includes custom hardware and software that work immediately to improve comfort and indoor air quality while optimizing the building’s energy use. The system uses integrated AI to create a digital twin of any commercial building, fusing data from a wireless sensor network and third-party weather forecasts to predictively and proactively redirect air to where it is. no longer needed. Over a million data points and hundreds of thousands of individual decisions are analyzed and made daily in each customer building. The system is the only native IoT solution available on the market today, a differentiator that leads to more connected, intuitive, efficient and affordable construction operations.
“As a leader in automation and digitization, Siemens is committed to supporting products, solutions and services that can deliver productivity and flexibility to customers throughout the value chain,” said Sandfort.
“We are honored to have the support of global leaders like Siemens,” said Deepinder Singh, Founder and CEO of 75F. “We want every commercial building to have the technology to operate efficiently and affordably. My belief as an entrepreneur has always been that we need to turn market leaders into partners – in doing so, we can accelerate the adoption of truly innovative technologies in the industry.
This philosophy is the one adopted by Steve Case, co-founder of AOL and CEO of Revolution, the venture capital firm behind the Rise of the Rest Seed Fund, one of the first investors in 75F. “We have entered the third wave of the Internet, where it’s not the Internet of Things anymore, it’s the Internet of Everything,” Case said. “Companies like 75F are so compelling because they build on this trend by focusing on what I call the three Ps: partnership, politics and persistence. “
75F designs and manufactures the world’s first IoT-based building management system, an out-of-the-box, vertically integrated solution that is more affordable and easier to deploy than anything on the market today. The company leverages IoT, cloud computing and machine learning for proactive, data-driven building intelligence and controls for HVAC and lighting optimization. Investors include some of the biggest names in energy and technology. The mission of the 75F is to improve occupant productivity by improving comfort and indoor air quality, while saving energy and the environment.
Visit www.75f.io and @ 75f_io to learn more.
About Siemens smart infrastructure
Siemens Smart Infrastructure (SI) is shaping the smart and adaptive infrastructure market today and tomorrow. It responds to the pressing challenges of urbanization and climate change by connecting energy systems, buildings and industries. SI provides its customers with a complete end-to-end portfolio from a single source – with products, systems, solutions and services from the point of power generation to consumption. With an increasingly digital ecosystem, it helps customers prosper and communities to progress while contributing to the protection of the planet. SI creates environments that care. Siemens Smart Infrastructure is headquartered in Zug, Switzerland. As of September 30, 2020, the company had approximately 69,600 employees worldwide.