Spotlight: Smart-building company 75F ‘scales up’ with partners | Finance & Commerce
Today’s climate challenges are too large for any company to solve alone, says Deepinder Singh, founder and CEO of 75F, the Bloomington-based manufacturer of smart building management systems.
That’s one reason why working with — instead of against — potential competitors in the industry is critical, Singh said.
And why a $5 million investment from Next47, the global venture capital unit of German electronics giant Siemens is so exciting for Singh. The Next47 investment, announced in July, completes 75F’s first round of funding at $28 million. Previous investors include Bill Gates’ Breakthrough Energy, OGCI Climate Investments and WIND Ventures.
The Siemens investment adds to the momentum 75F gained in May when it announced a partnership with Plymouth-based Daikin Applied Americas to design and deploy a new generation of wireless building controls and sensing technologies, Singh said. The cloud-based suite of building management system (BMS) products is designed to work out-of-the-box with equipment from Daikin Applied, a global commercial heating, ventilation and air-conditioning (HVAC) leader.
‘The iPhone of building intelligence’
The Daikin partnership and Siemens investment represent “a huge amount of validation” for 75F’s approach, which Singh likens to “the iPhone of building intelligence.” 75F’s smart sensors and software, according to the company, leverage the Internet of Things (IoT) and machine learning to control HVAC systems, lighting and indoor air quality and make commercial buildings “more efficient, comfortable and healthier.”
That’s one reason why working with — instead of against — potential competitors in the industry is critical, Singh said.
And why a $5 million investment from Next47, the global venture capital unit of German electronics giant Siemens is so exciting for Singh. The Next47 investment, announced in July, completes 75F’s first round of funding at $28 million. Previous investors include Bill Gates’ Breakthrough Energy, OGCI Climate Investments and WIND Ventures.
The Siemens investment adds to the momentum 75F gained in May when it announced a partnership with Plymouth-based Daikin Applied Americas to design and deploy a new generation of wireless building controls and sensing technologies, Singh said. The cloud-based suite of building management system (BMS) products is designed to work out-of-the-box with equipment from Daikin Applied, a global commercial heating, ventilation and air-conditioning (HVAC) leader.
‘The iPhone of building intelligence’
The Daikin partnership and Siemens investment represent “a huge amount of validation” for 75F’s approach, which Singh likens to “the iPhone of building intelligence.” 75F’s smart sensors and software, according to the company, leverage the Internet of Things (IoT) and machine learning to control HVAC systems, lighting and indoor air quality and make commercial buildings “more efficient, comfortable and healthier.”
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