The Weekly Smart Building Briefing - #46 2024
Latest Research & Insights
The Rise of Grid-Interactive Buildings: Where PropTech Meets the Grid
Our new research identifies a robust ecosystem of 130 companies providing Grid-Interactive Efficient Buildings (GEBs) integration solutions. These vendors are developing sophisticated platforms that combine demand response capabilities, distributed energy resource management systems (DERMS), and AI-driven optimization tools to create more resilient and sustainable building operations.
LMG: UK Smart Buildings Software & Services Provider Examined
In this Research Note, we examine LMG, the UK smart building solutions provider and systems integrator, based on their 2023 company accounts, filed earlier this year and the group’s recent strategies to meet the evolving needs of commercial real estate clients. Founded in 1986 and based in London, UK, LMG provides services for the design, deployment, integration, and support of in-building smart technologies.
Kontrol Technologies Smart Buildings Business & Financials Examined
In this Research Note, we examine Kontrol Technologies Corp, a Canadian public company offering IoT, Cloud, and SaaS technology for smart buildings and cities in the North American market. This analysis covers their subsidiaries and operating businesses, corporate restructuring and divestments, 2023 financial performance, value proposition, and corporate strategy.
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Funding & Investments
Andium Raises $21.7 Million in Series B Funding Led by Aramco Ventures to Cut Emissions
Andium, a vendor of Industrial Internet of Things (IIoT) remote-field monitoring and communications technologies, announced its $21.7 million Series B funding close led by Aramco Ventures, the corporate venture arm of one of the world's largest integrated energy and chemicals companies. Following the company's $15M Series A in 2021, this investment brings the company's total funding to over $40 million.
Transaera Secures $10.5 Million to Deliver Energy-Efficient Air Conditioning
Transaera Inc., a tech company developing an energy-efficient approach to cooling and dehumidification, has closed an $8.2 million seed funding augmented by an additional $2.3 million in non-dilutive grant funding from the U.S. Department of Energy. Transaera has developed a platform based on solid desiccants, which adsorb moisture to provide more efficient cooling. Their systems use heat generated by the cooling process, which typically goes to waste, to remove humidity from the air.
Equilibrium Energy: $39 Million Raised To Build Next-Generation Clean Power Company
Equilibrium Energy — a technology company building a next-generation of clean power — announced it had closed a $39 million Series B venture fundraising led by DCVC and including top-tier institutional investors Breakthrough Energy Ventures and Valo Ventures. This new funding builds on the company’s $30 million Series A financing led by Breakthrough Energy Ventures in 2022.
Swedish Energy Tech Company Flower secures €20M to enhance renewable energy
Stockholm-based Flower, an energy tech company, has raised an additional €20M in its Series A funding, totaling €45M for this round and €100M in total investments. Flower’s AI-driven platform and infrastructural hardware help make energy usage within global grids more flexible, stable, and predictable. This enables a cleaner energy system and offers new revenue opportunities for renewable power asset owners.
iDWELL on course for growth with EUR 10 million round
PropTech company iDWELL raises around EUR 10 million from Knight Capital and existing international investors such as Flashpoint Venture Capital and Wecken & Cie. This investment will drive growth, invest in an even smarter property management platform, and expand the offering and service portfolio. Around 750 property management companies in Germany, Austria, and Switzerland already use iDWELL’s innovative property management platform.
M&A & Partnerships
Tagup Partners with Neeve to Accelerate Smart Building Transformation
Tagup has partnered with Neeve, formerly View’s Smart Building Cloud, to accelerate the digital transformation of buildings. This partnership makes AI-powered HVAC optimization technology available with Neeve’s cybersecurity and cloud access features. The addition of HVAC optimization technology to Neeve’s application marketplace provides building owners and operators with an AI-powered solution to optimize and automate building controls.
Video AI Vendor IntelliVision acquired by Nipun Vision
IntelliVision, a global provider of AI and Video Analytics, has been acquired by Nipun Vision Corporation from Nice North America. Under the terms of the agreement between the parties, Nipun Vision Corporation has acquired full ownership of IntelliVision Technologies Corp, including customer accounts and existing contracts. Nipun Vision will let IntelliVision operate as a standalone entity focused on the broader AI market for security, surveillance, and Dashcam ADAS/DMS for Fleets.
Normative Expands Nordic Carbon Accounting Leadership with Acquisition of Eivee
Normative, a vendor of enterprise carbon accounting across the Nordics, EU, and UK, announced its acquisition of Eivee, a carbon accounting solution provider serving some of Denmark's largest companies. The terms of the transaction were not disclosed. This move solidifies Normative's position as the major carbon accounting solution in the Nordics.
Divcon Controls Is Now a Rockwell Automation Best-in-Class Partner
Divcon Controls, a national building management and electrical power monitoring system provider announced a partnership with Rockwell Automation, Inc. The partnership with Rockwell Automation allows Divcon Controls to leverage advanced Programmable Logic Controllers (PLCs) and other automation technologies to build a comprehensive suite of solutions aimed at improving energy efficiency, asset reliability, and sustainability for its customers.
Technology Developments
Live Event: The Rise of Grid-Interactive Buildings!
Join us on Wednesday 20th November (1430 Paris | 1330 London | 0830 New York | 1730 Dubai) for a FREE Live Event Discussing our New Research into the Market for Grid-Interactive Buildings! Learn how Commercial Buildings are Transforming into Active, Responsive Participants in the Energy Grid.
Central London buildings to be heated by new low carbon heat network
A new ￡1 billion low-carbon infrastructure project has been launched in Westminster, signifying a major step towards driving investment and creating well-paid, secure jobs. It will become one of the UK’s first ‘heat network zones’ – places where heat networks are the cheapest and best way to decarbonize compared to each building having its own air source heat pump. On average, heat networks are 40 percent cheaper for customers than building-level heat pumps.
ABB Smart Building Software Flaws Invite In Hackers
Vulnerabilities in a smart building energy management system including an easily exploitable, two-year-old flaw that hasn't been widely patched could let hackers take over instances misconfigured to allow internet exposure. The flaws, highlighted by industrial control system researcher Gjoko Krstic - aka "LiquidWorm" - carry critical CVSS scores. The vulnerabilities, CVE-2023-0636 and CVE-2024-6209, affect Cylon Aspect software made by electrical engineering firm ABB.
Schneider Electric Suffers Data Breach
Schneider Electric, a major player in energy management and automation, has confirmed a security breach affecting one of its internal project execution tracking platforms. The incident involved unauthorized access to sensitive data, including employee and customer information. A threat actor identified as "Grep" on social media platform X claimed they had successfully breached the company's systems.
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