IoT startup 75F on Friday announced a new investment from a global venture capital firm backed by German conglomerate Siemens AG, raising $28 million in series A funding.
Next47, a global venture capital firm backed by Siemens, led the investment on behalf of Siemens Smart Infrastructure, said a statement from 75F. The latest influx in 75F’s Series A funding round brings the Minneapolis-based company’s total funding to USD 28 million, reads a company statement.
“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 vertically-integrated 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. The company designs and manufactures IoT-based building management system. It leverages IoT, cloud computing and machine learning for data-driven, proactive building intelligence and controls for HVAC and lighting optimisation.
