75F is excited to announce an investment from Siemens Ag. Next47, the global venture capital firm backed by Siemens, led the investment on behalf of Siemens Smart Infrastructure. The latest investment brings our total Series A funding round to $28 million. Next47 joins previous 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 toward energy efficiency and the technologies that make those savings accessible to more customers," said Henning Sandfort, CEO of Building Products at Siemens Smart Infrastructure. "75F's wireless solution is easy to install and implement, offers fully-integrated AI and analytics, and can help get companies large or small on a path to meeting their energy or carbon reduction goals."
75F's vertically-integrated, full-stack solution includes custom hardware and software that works out of the box to improve comfort and indoor air quality while optimizing building energy use. The system uses built-in AI to create a digital twin of any commercial building, merging data from a wireless sensor network and third-party weather forecasts to predictively and proactively redirect air where it is needed most. More than a million data points and hundreds of thousands of individual decisions are analyzed and made in each customer building daily. The system is the only IoT-native solution available on the market today, a differentiator that leads to more connected, intuitive, efficient and affordable building operations.
"As a leader in automation and digitalization, Siemens is committed to supporting products, solutions and services that can deliver productivity and flexibility to customers across the value chain," Sandfort said.
"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 needed to run efficiently and affordably. My belief as an entrepreneur has always been that we should turn market leaders into partners — by doing this, we can accelerate the adoption of truly innovative technology across the industry."
This philosophy is one espoused by Steve Case, AOL Co-founder and Chairman and CEO of Revolution, the venture firm behind the Rise of the Rest Seed Fund, one of 75F's earliest investors. "We have entered the Third Wave of the Internet, where it is no longer the Internet of things, it is the Internet of everything," Case said. "Companies like 75F are so compelling because they are building on that trend with a focus on what I call the three Ps: Partnership, Policy, and Perseverance."