Chrysalix Set, a venture firm backed by two Netherlands-based utilities, has helped building energy efficiency software company Sefaira raise $10.8m today.
The firm, formerly known as SET Venture Partners, was joined backing the Series A round by Braemar Energy Ventures, which led the round, and Hermes GPE, an investment firm backed by asset manager Hermes. Beanstalk, a corporate finance advisor to Sefaira on the deal, said the round was the largest series A in the UK for more than two years, based on its analysis from UK Funders and Capital IQ data.
SET Venture Partners was renamed as Chrysalix SET earlier this year. It is backed by Netherland-based utilities Delta and Energy Resources Holding. SET Venture Partners has been advised by venture firm Chrysalix and Netherlands-based asset manager Robeco since it was founded in 2007.
Rene Savelsberg, chief executive of SET, and Neil Suslak, managing partner of Braemar, will join Sefaira’s board. Savelsberg said: "Our confidence in Sefaira is demonstrated by their impressive track record of rapid customer adoption, new market expansion and global presence. We are excited to help further accelerate their growth plans."
Sefaira was founded in 2009. Its technology allows architects, engineers and building owners to ensure energy consumption and water use are specified earlier in the design process. The company secured its first "strategic customer deals" recently.
UK-based law firm SJ Berwin also advised Sefaira.
Matthew Byatt, co-founder of Beanstalk, said: "This is a sign of the times that things are changing in clean tech, having an international body of investors acknowledging a London-based business."
He added that the company was in part helped in the fundraising by its being a low capital intensive business, as businesses with high cost bases have generally fallen out of favour in the sector after the financial crisis. He said: "Capital light technology plays are really capturing the imagination of the venture capitalists at the moment."