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75F raises USD 18 mn in funding led by Breakthrough Energy Ventures, OGCI

Business Finance

Press Trust of India  |  New Delhi 

Building intelligence company 75F on Wednesday said it has raised USD 18 million (over Rs 129 crore) in funding round led by Breakthrough Energy Ventures and Oil and Gas Climate Initiative (OGCI).

The series A round also saw participation from Building Ventures, Revolution's Rise of the Rest Seed Fund, and Clean Energy Trust, a statement said.

The company, founded in 2012, has raised a total of USD 25 million to date, it added.

"This strategic funding will allow 75F to invest in key positions, continue to innovate our product and customer solution, and strengthen our partner network across North America, Middle East, and APAC including India, Singapore China, and Australia," 75F Chief Executive Officer Deepinder Singh said.

75F offers an intuitive, self-optimising system that helps save up to 50 per cent on HVAC (heating, ventilation, and air conditioning) and lighting energy, improves occupant comfort and enhances operational efficiency.

The company said funds from this round will be used to scale support and operations, invest in R&D, upgrade office locations in MinneapolisSaint Paul and Bengaluru and open additional satellite office locations.

75F is currently recruiting for sales, software engineers, and product engineers as well as service, support, and supply chain associates in both the US and Asia Pacific regions.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, September 04 2019. 19:15 IST