US-based building management software provider 75F increased its series A round to approximately $22.8m, adding $4.75m from a consortium led by Wind Ventures, the corporate venturing subsidiary of petroleum supplier Copec.
Breakthrough Energy Ventures and Climate Initiative co-led the round’s $18m first tranche in September 2019, investing alongside Building Ventures, Revolution’s Rise of the Rest Seed Fund and Clean Energy Trust.
Founded in 2012, 75F has built a system that automates a building’s heating, ventilation and air conditioning systems, utilising wireless sensors, controllers and cloud software.
Brian Walsh, Head of Wind Ventures, said: “Today, most building automation solutions in existence are cost-effective for only the largest, most sophisticated buildings, which represent a very small percentage of all buildings globally.
“For emerging regions like Latin America, the 75F product-market fit represents a leapfrog opportunity for most of the market from small to very large, so we are excited to work with the team to bring the 75F solution into the region.”
The company had received $105,000 when it won a Rise of the Rest pitch contest in 2014 and said the 2019 first close increased its overall funding to $25m. It was part of financial services firm Wells Fargo’s Innovation Incubator in 2018.
