15 Start Ups to watch in 2017!Published: Q1 2017
Smart Buildings
15StartUpstoWatch!
2017The15profilesinthisreporthavebeenselected,accordingtoMemoori'sviewof"CompaniestoWatchin2017".Theyarebasedoninterviewswithseniormanagementandsecondaryresearch.
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Contents
75F..................................................................................................................................................2
AssetMapping................................................................................................................................4
Camio..............................................................................................................................................6
Ecorithm.........................................................................................................................................7
Enlighted.........................................................................................................................................9
FoghornSystems..........................................................................................................................11
GrowingEnergyLabsInc(GELI)....................................................................................................12
Levaux...........................................................................................................................................14
OrigamiEnergy.............................................................................................................................16
PointGrab.....................................................................................................................................18
PrismSkylabs................................................................................................................................20
Riptide..........................................................................................................................................22
Stem.............................................................................................................................................24
SwitchAutomation.......................................................................................................................26
VerdigrisTechnologies.................................................................................................................28
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75F
Founded:75FwasestablishedinNovember2012
Locations:Burnsville,Minnesota,USA(HQ)andBangalore,India(R&D)
Founders:DeepinderSinghandPankajChawla
Management:DeepinderSingh,CEO;PankajChawla,CTO
NumberofEmployees:45
FundingStage:Earlystageseedfunding
TotalFunding:Bootstrappedforthefirsttwoyears,theventurefirstraisedfundingin2015andhassofarraised$4millionacrossthreerounds.Investors:AOLco-founder,SteveCaseandGopherAngels,anetworkofangelinvestorsbasedintheTwinCities.
CategoryofBusiness:ConnectedHVAC
EstimatedSales(2016):75Fareexpectingtoclose2016withapproximately$2millionrevenues,amajorityofthisoriginatingfromtheUS.Offering:TheirDynamicAirflowBalancingsystemclaimstobeaninnovativeapproachtoHVACzonecontrols.LeveragingIoTdesignphilosophyandthepowerofcloudcomputing,the75Fsolutionachieveswhatwasoncethoughttobeonlytheoreticallypossible–continuouscommissioningorperfectairbalancing.
WirelessZoneControllerssenseandcollecthundredsofdatapointsfromeachroomeveryminuteandsendthedatatotheCentralControlUnitandfromtheretotheserversinthecloud.Eachnight,cloudcomputingalgorithmsanalyzethousandsofdatapoints,includingtheweatherforecastanddailyusagepatternsthatallowthesystemtopredictfutureconditions.Subsequently,anewsetofinstructionsaresenttotheCentralControlUnitandthemotorizeddampersaremodulatedafewdegreesatatimetoachievetheperfectbalanceeveryminuteoftheday.Thesystemalsofactorsinreal-timeevents,suchasroomoccupancy,thepositionofthesunandweatherpatternstomakecontinuousadjustmentstotheplanasneeded.
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Differentiation:Theinstalledcostoftheirequipmentisapprox20-25%ofthecostandlessthan25%ofthetimeforatraditionalsystem.
MostImportantAchievementtodate:75F'ssolutionoffersproactivepredictivecontrol/machinelearning,capturingdataevery60seconds.
Customers:Havinginstalledover1,000controlzones,75F’sclienteleincludesTacoBell/BorderFoods,YogaFit,Magnet360andLongHornSteakhouses.
TargetMarkets:75FDynamicAirflowBalancingisdesignedforlightcommercial/industrialbuildingswithforcedairConstantVolumerooftoppackageunits.Aimedatbuildingsunder50,000sq.feet-focusingonrestaurant,officeandretailfacilitieswithnozonecontrols,whichthecompanyestimatesaccountsfor5millionbuildings.Smallerbusinessesarethefocusof75F’sefforts,amarketinwhichSinghbelievesisavoid.“Thatvoidrepresentsa$40billionopportunityfortherightproduct"hestatedin2014.
Thelowretrofitcostof$1.35to$3.50persquarefootasaretrofitsolutionisreadilyadoptedbyfacilitiesexperiencingthediscomfortoflargetemperaturevariations.
Innewconstruction,75FDynamicAirflowBalancingcanbespecifiedintheplaceofVVTzoningsystems,withlowerinstallationcosts.
“Weseeabout20millionpotentialsystems,withaboutfoursystemsinstalledineachbuilding.Eachsystemisabout$5,000installed.Itcostsanaverageof$1.50to$3persquarefoot.
Theexpectedreturnoninvestmentforthe75Fsystemisonetothreeyears,accordingtoSingh.Itvarieswidelybasedonthenumberofroomsinsideabuilding,aswellastheavailabilityofrebatesforenergysavings.
GeographicmarketsareUSAandIndia.
GrowthStrategies
• LaunchofbusinessoperationsinIndiainAugust2016,withatargetofRs100crorerevenuesbyFY2018-19
• ExpansionofofferingtoClassAbuildings(over100,00squarefeet)• Additionoflightingcontrolandautomatedenergyanalysistotheirportfolio
Addressingnichemarketswherethecompanycandifferentiateitsoffering
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Asset Mapping
Established:AssetMappingwasformedin2012
Locations:London,UK
Founders:BillClee,whoworkedastheassetmanagerduringtheconstructionoftheLondonOlympicPark,priortocreatingthecompany.
Management:BillClee,CEO;MichaelGrant,COO;AndyMulholland,Chairman.
NumberofEmployees:18withanadditional5planned.
FundingStage:GrantsfromInnovateUK,whohavebeenpivotaltothecompany'ssuccess-eg.£95,000receivedinMay2013.TheyhavewonfourprojectswithInnovateUK,includingbecomingleadersoftheSmartCityverticalforHypercat.
TotalFunding:notdisclosed.Currentlyclosingfurtherinvestmenttotakethecompanytomarket.
Investors:notdisclosed.
ParticipationinAccelerators/Incubators
• Level39Accelerator,CanaryWharfGroupplc’stechnologyacceleratorspaceatOne
CanadaSquare,in2014
• IDEALondonpost-acceleratorprogramin2015.IDEALondonwascreatedasa
partnershipfacilitycreatedasapartnershipbetweenCiscoSystems,DCThomsonand
UniversityCollegeLondon(UCL).
CategoryofBusiness:Proptech&InternetofThings
EstimatedSales(2016):Approx.£1millionannualrevenues.Offering:AssetMappingprovidesbuildingowners,facilitiesmanagersandoperatorsasinglepaneofglassviewoftheirbuildings.Theplatformgathersdataaboutsystemsfromseparateenergymanagementsystems,BMSsystems,softwarepackages,spreadsheets,drawingsandfiles,pullingthemintoasinglewebapplication.Fromthiswebapplication,anyonecanvisualize
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thelocationandhealthofcriticalequipmentinbuildingsandinfrastructure,bothduringtheconstructionprocessandthroughoutthelifeoftheassets.Arulesengineaddsbusinessintelligencetotheoperationsandmanagementofassetsbysendingalertstooperatorswithalltheinformationtheyneedtofixissuesfaster.Thisresultsinsignificantoperationalcostsavings,reducedconstructionprojectlifecyclesandreducedenergyconsumptioninbuildings.
Differentiation:Holisticviewofbuildingassetswithnodirectcompetitionatpresent.
Partnerships:ThecompanyhasrelationshipswithleadingtechnologyprovidersCiscoandIntel.AsaCiscoSolutionPartner,AssetMappingoffersacomplementaryproductofferingandhasstartedtocollaboratewithCiscotomeettheneedsofjointcustomers.
AssetMappingandCiscoworktogetheronCityVervein2016inManchester,connectingbuildingswithCisco'sIoTgateways.This£10mSmartCitiesproject,sponsoredbyInnovateUK,demonstratesthefeasibilityofsmartcitiesreducingtheiroperatingcosts,andaddingvaluetotheirinhabitantsusingIoT,scalabletechnologiesacrossfourkeyareasincludingenergy,environmentandtransport.
AssetMapping,CiscoandJohnsonControlsarealsopartofProjectaSSURE.TheaSSUREproject,whichstandsforSecureSensorUseinReal-WorldEnvironments,involvesestablishingalifecyclemanagementprocessforIoTdatasecuritybecausetheyrecognizethatnosinglesecurityapproachwillproperlyaddressallusecasesandIoTenddevices.TheaSSUREprojectwantstoestablishaframeworktodevelopdifferentapproachesbasedontheclassesofdevicesbeingconnected(Jan2016).
Customers: Notdisclosedcustomers.Theyrangefrompublicsectortoproductmanufacturersandfinancialinstitutions.
MostImportantAchievementtodate:ManchesterSmartCitiesProjectandsigninganongoingcommercialagreementwithaglobalequipmentmanufacturer.
TargetMarkets:Thecompanyaretargetinglargecommercialbuildings,suchasoffices,warehousesandfactoriesandownerswithbuildingportfolios,intheUKandUS.
GrowthStrategies:
• Obtainseedfundingasproofofconcept
• AddressUSmarketaswellasUKmarket
• Focusoncommercialrealestateandlargeproperties
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Camio
Established:Foundedin2011
Locations:SanMateo,California,USA
Founders:CarterMaslan,formerDirectorofProductManagementatGoogle
Management:CarterMaslan,CEO
NumberofEmployees:intherangeof11-50
FundingStage:Earlystageseedfunding
TotalFunding:Totalseedfundingof$2.20millioninFebruary2014
Investors:20investorsintotalincludingFreestyleCapital,GreylockCapital,FloodgateFund,BoxGroup,MarissaMayer,BrianMcClendon,andJohnHenke.
CategoryofBusiness:Security
EstimatedSales(2016):notdisclosed
Offering:Cloud-connectedvideomonitoringservice,whichcombineslocal/edgeandcloudmachinelearningtomakevideoeasilysearchable.Camioadaptstoeachcameratolearnwhat'simportantandunimportanttooptimizeusageofbandwidthandstoragewhileenablingfastbrowsing.
Customers: Manufacturersof NVRfirmwareandcommercialbuildingsystemintegrators
MostImportantAchievementtodate:Smartvideomonitoring
TargetMarkets:Smallandmidsizecompaniesareagrowingsegmentoftheirbusiness
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Ecorithm
Founded:Ecorithmwasestablishedin2011
Locations:SantaBarbara,CaliforniaandNewYork
Founders:StephanieMarasciullo,UniversityofCaliforniaSantaBarbara(UCSB)ProfessorDr.IgorMezić,andDr.ChrisTagge
Management:DrChrisTagge,CEO;DrIgorMezic,ChiefScientificandTechnicalAdviser
NumberofEmployees:16employees(Feb2016)
FundingStage:Earlystageseedfunding
TotalFunding:$20.2million
Investors:Recentinvestorsarepredominatelycustomersandchannelpartners.InvestorsincludeDanielTishmanoftheNewYorkTishmanfamily,alsotheCompany'sChairmanandGenNextVentures,aventurecapitalfundbackedbyRelianceIndustriesLtdIndia.
CategoryofBusiness:EnterpriseEnergyManagement
EstimatedSales(2016):Notdisclosed
TargetMarkets:largeClassAcommercialofficeswithbuildingautomationsystems(≈3billionsquarefeetintheU.S.)expandingtomorethan60billionsquarefeetintheU.S.ofcommercialandgovernmentoffices,datacenters,retail,healthcare,educationandindustrialfacilities.
Offering:Ecorithmoffers"TrueAnalytics",anadvancedanalyticalsoftwareplatformtooptimizecomfortandenergyefficiencyforcommercialbuildingsworldwide.Thecompanyprovides“physics-basedalgorithms,combinedwithbigdatatechnology”toidentifyenergywasteincommercialbuildings.
Differentiation:Differentiatedbyitshighlyaccurateautomatedfaultdetectionandpredictiveanalysis.Ecorithmclaimstooffertheonlysoftwareavailabletodaycapableofholisticenergyoptimizationforthe“systemofsystems”thatconstituteawholebuilding.Theirsoftwareworkswithexistingbuildingautomationsystemstodramaticallyincreasethegranularityofenergyanalyticsbyanalyzingthemassiveandunstructureddataflowsfromallofthebuildingenergysystems–temperatures,airflows,setpoints,etc.Bymappingtheseenergyinputstothethermalphysicsandconfigurationofthebuilding,Ecorithm’sproprietaryspectralandspatial
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algorithmsallowEcorithmtoshowownershowthevarioussystemsintheirbuildingsareoperatingonastand-alonebasisaswellasinteractingwitheachothertorapidlyidentifyinefficientenergyusefarmoreeffectivelythancurrentlyavailablesolutions.
Theydeliverdetailedindividualfloorvisualizationswithactionableintelligenceatthelevelofindividualdevicestooptimizeenergyperformanceandcomfort.
BusinessModel:Theirbusinessmodelissoftware-as-a-serviceandtheirprimarydistributionisthroughselectedchannelpartners-controlscontractors,ESCO(energyservicecompanies)andenergyconsultants.
CoreTechnology:Ecorithm’sunderlyingpatent-pendingtechnologywasdevelopedoveratenyearperiodinassociationwithUSDOD/DARPAbyco-founderIgorMezic,PhD,ProfessorofMechanicalEngineeringandMathematicsatUniversityofCalifornia,SantaBarbara.Ecorithmholdsexclusive,globalrightstotheintellectualpropertyfromtheuniversity,covering:
• Spectralanalysistorapidlyanalyzeextremelylargedatasetsbyremovingtheinherentnoiseoftypicalbuildingoperations.
• Rapididentificationofperformancefaultsbasedonawholesystemsanalysis,includinginteractionsbetweeninternalandexternalspacesandequipment.
• Clearvisualizationofhistoricalandreal-timeoperationalperformance.
Customers:UCSB’sEducation&SocialSciencesBuilding(ESSB)iscurrentlytheonlybuildinginSantaBarbarausingEcorithm’stechnology,butthecompanycontinuesservicing5.5millionsquarefeetofcommercialbuildingspace,primarilyinitsNewYorkmarket.MarascuillosaidSantaBarbara-basedCitrixSystems,Inc.isaprogressive“earlyadopter”ofthetechnology,usingEcorithmforitsbuildingsinNorthCarolina.
FuturePlans:Asthecompanygrows,MarascuilloandMezićhopetoexpandtheirsalesteamwithSeriesAfunding—venturecapitalinvestments—tobecomemoreproactivewiththeircustomers.
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Enlighted
Established:Enlightedwasfoundedin2009
Locations:HeadquartersinSunnyvale,California,USA
Founder:TanujMohan
Management:Chairman&CEO:JoeCostello;TanujMohan,ChiefTechnologyOfficer;MikeMartini,ChiefFinancialOfficer
NumberofEmployees:intherangeof51-200employees
FundingStage:SeriesD/Feb2016
TotalFunding:$85.6million
Investors:ThecompanyhasreceivedventurefundingfromDraperNexusVentures,KleinerPerkinsCaufield&Byers,RockPortCapitalPartners,DraperFisherJurvetson,IntelCapital,ElectranovaCapitalandTaoCapitalPartners
CategoryofBusiness:BuildingInternetofThings
EstimatedSales(2016):intherangeof$50-$100million
Offering:Enlightedoffersa"built-in"IoTsolutionforbuildings,whichdifferentiatesthecompanyfromotherbolt-onsolutions,intermsofgranularityandsensordensity.Thecompanyofferingincludesconnectedlighting,smartHVACandspaceoptimizationappsforcommercialrealestateandenterpriseapplications.
“Thisisnolongeraboutjustprovidinglightingcontrols,”saidCostello.“InstallingtheEnlightedIoTplatformislikegivingyourbuildingabrain.Wecanprovidesoftwaresolutionsforenergysavings,assettracking,realtimeinformationaboutbuildingutilization,andsecurityforbuildingsandpeople,tonameafew.Thegamereallyhaschanged.”
Competitors:OneofEnlighted'sstrongestcompetitorsisconsideredtobeAcuityBrands.
Customers: Enlighted’sIoTsystemisinstalledinmorethan100millionsquare-feetnationwideinFortune500companiesincludingGoogle,AT&TandHP.Theyhavedeployedover1millionsensors.
Partnerships:Thecompanyannouncedafive-year,globalintegratedtechnologyandservicespartnershipwithJLLinApril2016.ThisagreementformalizesandstrengthensJLL’songoing
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collaborationwithEnlighted,inwhichJLLdeliverssmartbuildingapplicationsthroughaplatformofintegratedservicesandtechnologies.Undertheexpandedpartnership,thisplatformwillcombineEnlighted’sadvancedsensortechnologyandWebapplicationswithJLL’sprojectmanagement,workplacestrategy,andenergyandsustainabilityservicesaspartofJLL’scomprehensiveSmartBuildingprogram.
TargetMarkets:Verticalmarketpenetrationestablishedincommunications,banking,healthcare,andnextgenerationserviceproviders.
BusinessDevelopment:ThecompanyiscurrentlyexpandinginternationaldistributiontoFrance,GermanyandtheUnitedKingdom.
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Foghorn Systems
Founded:FoghornSystemswasestablishedin2014
Locations:MountainView,California,USA
Founders:T.M.Ravi,alsoManagingDirectorandCo-founderofTheHive,andMohanReddy
Management:DavidC.King,CEO
NumberofEmployees:intherangeof11-50
FundingStage:SeriesA,July2016
TotalFunding:$14.5million
Investors:SeriesAfundingledbyMarchCapitalandGEVentures.AdditionalfundingwasprovidedbyRobertBoschVentureCapitalGmbH,YokogawaElectricCorporationandDarlingVentures.
ParticipationinAccelerators/Incubators:TheHive,seedfundandstartupacceleratorinPaloAlto,CA
CategoryofBusiness:BuildingInternetofThings
EstimatedSales(2016):undisclosed
Offering:FogHornisaleadingdeveloperof“edgeintelligence”softwareforindustrialandcommercialIoTapplications.,includingsmartbuildingsandsmartcities.
FogHorn’ssoftwareplatformbringsthepowerofmachinelearningandadvancedanalyticstotheon-premiseedgeenvironmentenablinganewclassofapplicationsforadvancedmonitoringanddiagnostics,assetperformanceoptimization,operationalintelligenceandpredictivemaintenanceusecases.
Partnerships:CollaboratingwithMicrosoftCorp.tomakeitssoftwareavailabletodevelopersandendusersviaMicrosoftAzure(April2016).
PromotedtoAssociatePartnerinDellInternetofThingsSolutionsPartnerProgram(June2016).
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Growing Energy Labs Inc (GELI)
Established:GrowingEnergyLabsInc(GELI)wasfoundedinearly2010
Locations:SanFrancisco,California,USA(HQ);NewofficeinMelbourne,Australia
Founders:FoundedbyDr.RyanWartenaandCrispellWagner
Management:DanLoflin,CEO;RyanWartena,President;CrispellWagner,CTO
NumberofEmployees:38
FundingStage:$500kSeriesSeedFinancingJune2013,$10millionSeriesAFundingRoundcompletedDecember2016
TotalFunding:around$11million
Investors:
• SeriesA;ShellTechnologyVentures• SeriesA;SouthernCrossRenewableEnergyVentureCapitalFund(REVC)• SeriesA;SiemensVentures• SeriesA;unnamedcleanenergyfamilyinvestmentoffice• Seed;InvestedDevelopmentandsevenangelinvestors
ParticipationinAccelerators/Incubators:ThecompanyhasbeenacceptedtoparticipateintheWellsFargoInnovationIncubatorin2017.ThecompanyiscurrentlyparticipatingintheEnergyExceleratorinHawaii.
CategoryofBusiness:EnergyStorageSoftware
EstimatedSales(2016):notdisclosed
Offering:GeliisbuildingthesoftwareinfrastructurethatwillenabletheemergingInternetofEnergy,anintelligentnetworkofdistributedassets.
Theyoffertoolstodesign,connect,andoperateenergystorageandmicrogridsystems,whichreducedemandthroughpredictiveforecasting
• DesignishandledbyGeli’sESysttool.Thisallowsthedevelopertoright-sizeand
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integratetheappropriatecomponents.Italsoyieldsperformanceprojectionswhichhelpdeveloperssecurefinancing.
• SystemautomationiscoveredbyGeli’sEOS,whichfacilitatestheintegratedandautomatedoperationofdisparateelementsofthemicrogridecosystem.Italsoensureoptimizationofthevariousparts.
• OngoingmonitoringisperformedbyGENI,whichdeliversreportsandconstantlyanalyzesthesystemforanomalies.
Differentiation:
• Geli'sbusinessmodelisB2B,operatingasanenablerforlargesolardevelopers,engineeringfirmsandconstructionpartners.Theylicensetheirsoftwaresolutions.
• Theiranalyticsplatformistheirkeydifferentiator,withitsabilitytoeasilyintegratenewhardwareandenergyapplications.
Competitors:Stem,GreenChargeNetworks,GreensmithEnergy
Partnerships:Over500partnersusetheEsystplatform.
Customers: largesolardevelopers,energystoragesystemintegrators,EPC’sandfinanceinstitutions.
MostImportantAchievementtodate:ParticipationinstrongsolarmarketssuchasAustraliaandHawaiiwhichhavegridcompensation(orfeedintariff)policiesthatfavourtheuseofGeli’splatform.
TargetMarkets:75%ofthebusinessistargetedatthecommercialandindustrialsector;25%targetedattheresidentialsector
GrowthStrategies:ExpansionofoperationsintheAsia-Pacificregion
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Levaux
Founded:LevauxwasfoundedinJune2013inAustralia,althoughtheideaforthecompanywasbornontheshoresofLakeGenevain1998.
Locations:GoldCoast,Queensland,Australia
Founders:Dr.SimonBenson
Management:Dr.SimonBenson,CEO
NumberofEmployees:14
FundingStage:Pre-SeriesA
TotalFunding:Self-fundedtodate
ParticipationinAccelerators/Incubators:CityofGoldCoastBusinessAcceleratorProgram2014
CategoryofBusiness:BuildingInternetofThings
EstimatedSales(2016):Pre-revenue
Offering:LevauxIoTconnectsembeddedsmartobjectstothecloudusingproprietaryhighspeedmiddlewareandcustomwirelessmeshstack.ThecompanyoffersSenseAgent,anenterprise,cloudbased,buildingassetmanagementsystemusingwirelessautonomoussensoragentsembeddedinandinteractingwithincommercialspacestoprovideawealthofdatausedforlightingcontrol,safetycompliance,climatecontrolandsecuritytrackingtooptimisebuildinguse,reduceenergyconsumptionandoperationalexpensesacrossgeographicallydistributedassets.
Partnerships:ThecompanyisaimingtopartnerwithFacilitiesManagementcompaniesasaroutetomarket
MostImportantAchievementtodate:DevelopmentofproprietarymiddlewarecommunicationsplatformtodeliverunparalleledspeedandsecurityforcriticalinfrastructureandhighvalueassetsforenterpriseInternetofThingsapplications.
TargetMarkets:HighdensitycommercialofficebuildingsinAsia
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GrowthStrategies:
• SeriesAfundingroundplannedforearlyin2017• AddressingtheAsianmarket,whichhas47%highrisebuildings
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Origami Energy
Founded:OrigamiEnergywasfoundedin2013
Locations:Cambridge,UK(technologyteam)andLondon,UK(commercialteam)
Founders:PeterBance,whowaspreviouslyanEntrepreneurinResidenceatOctopusVentures.
Management:PeterBance,CEO,OliverBurstall,CTOandAmandaKing,CFO.
NumberofEmployees:30+
FundingStage:SeriesAfunding,April2016
TotalFunding:OrigamiEnergysecuredinitialfundingof£4minsummerof2014todeveloptheconceptandfundfieldtrials.ThesestartedinSeptember2015andtheyhavesuccessfullydemonstratedtheycanusetheirtechnologysolutiontosafelycontrolassetsanddelivervaluablecommercialservices.Theirvisionfortheenergymarketwasfurtherendorsedin2016whenthecompanysecuredaSeriesAfundingof£13.7mtodevelopthebusinessmodel.Totalfunding:$25.4million
Investors:CambridgeInnovationCapital,OctopusVentures,twoprivateindividuals,andinvestmentfromFred.Olsenrelatedcompanies.
CategoryofBusiness:DistributedEnergyResourceManagementSystems
EstimatedSales(2016):undisclosed
Offering:OrigamiEnergyisdevelopingthetechnologyandmarketplacethatarerequiredtoconnect,controlandactivelymanagealargenetworkofexistingenergygenerating,energyusingandenergystoringassetsconnectedtotheelectricitygrid.
TechnologyandDifferentiation:Nearlyallassetsthatgenerateorconsumeelectricityhavesomeinherentflexibilitytochangehowandwhentheywork.Flexibilityishowmuchyoucanincreaseordecreasethepowerlevelofanassetwithoutaffectingitsfunction.AtOrigami,theycallthisaFlexi-Watt.
Origami’stechnologyallowsFlexi-Wattstobeaccessed,sothattheycanbesoldtocustomerssuchasNationalGridandnetworkoperators.Withthegrowthinintermittentrenewable
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generationandtheprospectofmoreelectricvehiclesandheating,thenumberofcustomerswhoareinterestedinthisflexibilityisincreasing.
Origami‘EnergyRouters’combinehighaccuracymeasurement,securecommunicationandsmartprocessingcapabilitytomonitortheasset’sstateandworkwithinagreedparameterstounlockvaluableFlexi-Wattswithoutaffectingthecoreprocess.Controlcanbethroughasimpleon/offcommandviaarelay,orfullintegrationwithanexistingsophisticatedcontrolsystem.
EnergyRoutersareincontinualcommunicationwiththeiroptimisationplatform,providingreal-timeknowledgeofthestateandflexibilityofallassets.Theoptimisationplatformmatchesassetflexibilitywiththeevolvingrequirementsoftheelectricitysystematalocalandnationallevel.Theplatformplansaheadtoensureassetsareintherightstateaheadoflikelyrequirementsandavoidanyeffectsofcommunicationslag.Thegoaloftheplatformistomaximisethevaluefromtheassets.
AtOrigamitheyfocusontheenergysystemofthefuture,developingasolutionthatallowsmanydifferentassetstoworktogethertodelivervaluetomanydifferentcounterparties.Thisisnotatypicalapproachfortheenergyindustry.
Customers:Thenew£13.7millionoffundingwillallowOrigamiEnergytomovefrompilotfieldtrialstomulti-sitecommercialdeploymentswithawiderangeofcustomers,focusinginitiallyonindustrialandcommercialsites.
GrowthStrategies:Thecompanyistransitioningfromcurrentcustomerfieldtrialstoscalabledeploymentoftheirsolutiononacommercialbasis.
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PointGrab
Founded:PointGrabwasestablishedinMay2008
Locations:HodHasharon,Israel
Founders:ThecompanywasfoundedbySaarWilf,HaimPerskiandAmirKaplan.
Management:HaimPerski,CEO; ItamarRoth,ChiefBusinessOfficer
NumberofEmployees:intherangeof51-200
FundingStage:SeriesB,October2016
TotalFunding:$12million
Investors:
• SeriesA,Dec2015:investmenttotaling$5millionfromABBTechnologyVentures,EcoMachinesVenturesandFlexLabIX.SaarWilf,PointGrab'sChairmanandfirstinvestor,alsoparticipatedinthisfundinground.
• SeriesB,Oct2016:InvestorsincludePhilipsLighting,MitsubishiUFJCapitalCo.LtdandexistinginvestorABBTechnologyVentures
ParticipationinAccelerators/Incubators:ParticipantinTyco'sInnovationprogram.
CategoryofBusiness:BuildingInternetofThings
EstimatedSales(2016):undisclosed
Offering:UsesdeeplearningtoprovideoccupantanalyticsandinsightsaboutenergysavinginIoT-basedbuildingautomationsystems.Theirsolution,CogniPoint,isaminiaturenetwork-connectedcomputervisionsensor,runningembeddedanalyticsonalow-costprocessor.Thisceiling-mounteddevicecomesintwoformfactors:incorporatedintolightingfixturesorinstalledasastand-alonenodeconnectedwithinabuildingnetwork.Thesensorleveragestheadvantagesofthevisionmodalitytocapturefineobjectandoccupantdata,butbecauseallanalyticsareperformedatthesensorlevel,imagesarenevertransmittedfromthesensor,onlytheprocesseddataoractionableinformationisdeliveredastheoutput.Thesensorsadhereto
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allcommunicationstandardsandhavepowerfulsecuritymechanismsbuiltdirectlyintothedesign.
Differentiation:Pointgrab’sedge-analyticsIoTsensorhasbeenidentifiedbyTycoandothersasdisruptivetechnologyforsmartbuildings.Byembeddingdeeplearningtechnologyintoopticalsensingdevices,PointGrab’sCogniPointsensorprovidesindooroccupantanalyticsandenergysavingsincommercialbuildings,enablingunprecedentedprecisioninthedetectionofoccupants’locations,count,andmovements,aswellasprecisereadingsofambientlightingandmotionsensing.CogniPoint,leveragesdeeplearningalgorithms,enablingadetailedrichnessofthedataprovided,withoutevercompromisingtheoccupants’privacy.
Partnerships:ThecompanyiscollaboratingwithbothlargeintegratorsandleadinglightingOEMs,suchasABBLowVoltageProducts,PhilipsLighting,TycoandGooee.InJune2016,PointGrabannouncedthatithadjoinedtheCiscoDigitalCeilingframeworkasapartnerfordevelopingbuildingautomationsolutionsoveroneIPnetwork.AsamemberoftheCiscoDigitalCeilingframework,PointGrabwillcollaboratewithleadingorganizationstodrivetowardsmarter,connected,andmoresecurebuildings.
Customers:Thecompanyhasinstalledsmartsensorsinnumerouscustomersitesaspartofongoingcollaborationprojectswhilethecommercialreleasewillbeavailableinearly2017.
TargetMarkets:Thecompany'sfocusisonofficebuildingsTheyarealsopursuingopportunitiesintheretailspace,togetherwithsolutionproviders,andseehealthcareasaparticularlyinterestingandrapidlydevelopingvertical.
GrowthStrategies:Jointdevelopmentandmarketapproachwithgloballeadinglightingandengineeringcompanies.
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Prism Skylabs
Established:PrismSkylabswasfoundedinJuly2011
Locations:SanFrancisco,California,USA(HQ);LondonandNewYorkoffices
Founders:FoundedbyvideosurveillanceexpertSteveRussell,founderof3VRandSiliconValleyinvestorRonPalmeri.
Management:SteveRussell,CEO
NumberofEmployees:intherangeof50-60
FundingStage:$15millionSeriesBFundingRoundinOctober2013;CurrentlyconsideringSeriesCround.
TotalFunding:$24million
Investors:
• SeriesB;IntelCapital,PresidioVentures,TrianglePeak,DataCollectiveandExpa• SeriesA;TrianglePeakPartners,PacificPartners,AndreessenHorowitz,IDGVentures,
AnthemVenturePartners,Eagle,MkIIVentures,SeriesG,andDataCollective• Seed;theSVAngel,YuriMilner,EricSchmidt,AaronPatzer,BradGarlinghouse,the
CrunchFundandothers
CategoryofBusiness:Security
EstimatedSales(2016):$20-$200millionrange
Offering:Cloudservicetransforminganyvideocameraintoabusinessintelligencetoolthatcanbeaccessedfromanydevice.Installscameraswithheatmappingsoftwareandprovidesanalyticalservices.
Differentiation:Dataprivacyisaveryimportantfeatureofthesoftware,whichhasenabledthecompanytogaincompetitiveadvantage.
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Partnerships:PrismConnectisaprogramthatprovidescameramanufacturerswiththeresourcestoembedPrismdirectlyontotheirdevices.CurrentpartnersincludeAxisCommunications,PointGrey,HikvisionandFLIR.
Customers: 300+customersintheretailsector
MostImportantAchievementtodate:Overfiveyears,Prismhasattractedmorethan400retailstoredeploymentsin77countries.
TargetMarkets:Focusedonanalyticsfortheretailsector.
GrowthStrategies:LeveragingnewcapabilitiesbuiltfromArtificialIntelligence,computervisionandmachinelearningtofullytapthehiddenvaluewithinvideo.
http://memoori.com
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Riptide
Founded:RiptideIOwasestablishedinlate2012
Locations:SantaBarbara,California,USA(HQ);developmentofficesinBangalore,India
Founders:MikeFranco,DaveLeimbrock,MartiOgramandShawnLeimbrock,allpreviouslyatCiscoSystemsSmart+ConnectedBuildingsGroup.
Management:CEO:MikeFranco
NumberofEmployees:25
FundingStage:SeriesAfunding,December2015
TotalFunding:$3million
Investors:Daikinacquiredaminoritystakeinthecompanyin2015
CategoryofBusiness:BuildingInternetofThings
EstimatedSales(2016):under$5millionrevenuesOffering:ThecompanyisaimingtomovebeyondIoTintheHVACarenaintomid-markettotalbuildingautomationwith"thefirstaffordableturn-keycloud-basedmonitoringandcontrolsystemforsmalltomid-sizedmulti-siteretailoperations".Riptidelauncheditscloudbasedsolutionforsmalltomedium-sizedcommercialbuildingsinMarch2016.
Riptidealsooffersanenterpriseapplicationplatformwithbuilt-inanalytics,whichcanbeintegratedwithexistingbuildingmanagementsystemsfromsupplierssuchasJohnsonControls,SiemensandTrane.
Customers:MajorU.S.retailerhas8,000storesacrosstheUS,andRiptidehassensorsembeddedinabouthalfofthem,asitmonitorsHVAC,lighting,irrigationcontrol,fireandsafetycontrols,andmore.Eachbuildingsystemhasaprogrammablecontrollerthatmonitorsorturnsthesensorsoffandon,dimsthem,andsetstheirtemperatures.
AccordingtoanarticleontheRiptidewebsite,"inthosestores,therearesomethinglike1millionsensors.RiptideCEOMikeFrancosaidthatthedatacomingoutofthemrunsthegamut.Someofthesensorssampledataonceaminute,someevery5minutes,andotherssampleat15-minuteintervals.Somechangevalues.Therearenoconsistenttimestamps,noconsistenttimezones,andnoconsistentnamesofdatapoints.“It’svery,veryunstructured,”Francosaid.
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Whatisconsistent,then?It’salltimeseriesdata—alotoftimeseriesdata.Forthepastthreeyears,retailerssensordataoutputhasequaledabout5terabytes."
Riptideisalsodevelopingcloud-basedbuildingmanagementtools,andconnectingsensorsonrooftopmachinesincommercialbuildingsthathouseretailers,includingNordstrom,andothernationalchainretailers.
Partnerships:ThecompanyhasbeenastrategicpartnerofDaikinAppliedAmericas,providingtheIoTbackenginefortheircloud-basedIntelligentRooftopequipmentandinNovember2015,Daikinacquiredaminoritystakeinthecompany.Riptide’stechnologypartnersincludeGoogleCloud,Intel,DellandDatastax.
MostImportantAchievementtoDate:Completingoneofthelargestsensornetworksforbuildingdata.Helpingtheircustomerrootoutwasteandinefficiencythathasleadtobettercustomerexperiencesandlessspend.
TargetMarkets:Thecompanyisinitiallytargetingthesevenmillionbusinessestablishmentswhooperatein4.4millionsmalltomedium-sizedbuildingsacrosstheUnitedStatesandlackatraditionalbuildingautomationsystem.Riptideisfocusingitslaunchontheretailandretailfoodmarkets.Theirsolutionisalsosuitableforschools,healthcarefacilitiesandothercommercialbuildings.
StrategiesforGrowth:Inthelong-term,Riptideisaimingtoincreaseitsdistributionchannels,bypartneringwithHVACservicecompanieswhowanttomovetowardtrigger-basedmaintenanceandrepairs.Theyalsowanttoexpandbeyondtheretailsectortootherverticalmarkets.
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Stem
Founded:StemwasestablishedinMarch2009asPowergeneticsInc.Thecompanypivoteditsbusinessmodelfromhardwaretosoftwarein2012.
Locations:Millbrae,California,USA(headquarters)withoperationsinHawaiiandNewYork.
Founders:BrianThompson
Management:JohnCarrington,CEO;KarenButterfield,ChiefCommercialofficer;LarshJohnson,ChiefTechnologyOfficer;BillBush,ChiefFinancialOfficer
NumberofEmployees:intherangeof51-200
FundingStage:SeriesC,May2016
TotalFunding:$212.20million,including$100millioninprivateequityfundingfromStarwoodEnergyGroupinAugust2016
Investors:AngelenoGroup,GEVentures,ConstellationTechnologyVentures,TotalEnergyVentures,Mitsui,RWE,MithrilCapitalManagementandStarwoodEnergyGroup
CategoryofBusiness:EnergyStorage
EstimatedSales(2016):undisclosed
Offering:Stem,aleadingproviderofintelligentenergystorage,combinesbigdata,predictiveanalyticsandadvancedenergystoragetosimultaneouslyreduceelectricitycostsforbusinessesandinaggregate,deliverservicestothegrid.
Partnerships:Thecompany'scommercialrelationshipsunderscorethegrowingoverlapbetweenstorageandrenewables.IthasapartnershipwithSunPowertargetingC&Icustomersinterestedinpairingsolarandstorage.
Thecompanyalsohaspartnershipswithagrowingnumberofutilitiesandgridoperatorsandthereisalsointerestinthetechnologyfromtheutilityinvestors(RWEandConstellation).
Customers:CompaniessuchasSafeway,WellsFargo,RelianceSteel,WholeFoodsandAdobesubscribetoStem’sstorage-as-a-servicesolution.
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TargetMarkets:Energystorageforcommercialandindustrialfacilitieswithmorethan75MWhofprojectsdeployedorundercontractacrossmorethan480locationsacrosstheUnitedStates.
http://memoori.com
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Switch Automation
Founded:SwitchAutomationwasestablishedin2005,buthasundergonesignificantchangessincethen.In2010,thestartuppivotedfromahardware-basedplatformtargetinghigh-endindividualapartmentstoacloud-basedplatformtargetingenterpriseIoTapplications.
Locations:SanFrancisco,Calif.(headquarters)andofficesinDenver,Colo.andSydney,Australia.
Founders:DeborahNollerandJohnDarlington
Management:DeborahNoller,CEO;JohnDarlington,CTO
NumberofEmployees:38
FundingStage:Pre-SeriesA.Self-fundeduntilseedfundingroundin2015
TotalFunding:Receivedfundingforthefirsttimein2015intwotranches,totaling$2.2mUSD;currentlyraising$3-5mUSDontheconvertiblenote.
Investors:Australianangelinvestornetwork,ScaleInvestors,PearleInvestors.
ParticipationinAccelerators/Incubators:
• AlchemistAccelerator,November2015• DellforEntrepreneursFounders50initiative,September2014• SpringboardEnterprises,2013
CategoryofBusiness:BuildingInternetofThings
EstimatedSales(2016):undisclosed
Offering:SwitchAutomationdeliversEnterpriseOperationsandPortfolioManagementviathecloud.TheSwitchPlatformisusedbyitscustomersfordataacquisition,visualization,monitoringandcontroloflargeportfoliosofbuildingsspreadacrosstheglobe.ThePlatformprovidessuperiorvisualizationintobuildingperformanceforidentificationandactionon
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efficiencyimprovementsandcostsaving.Amarket-leadingproviderofbuildingautomationandenergymanagementsoftwareforcommercial,industrialandresidentialproperties,withprojectsintheUSA,Australia,AsiaandEurope,Switchleadsthefieldindeliveringits“software-as-a-service”(SaaS)platformthroughaflexibleandscalablecloud-basedglobalframework,poweredbytheMicrosoftAzureinfrastructure.
Competitors:Tridium'sNiagaraframeworkisastrongcompetitor.
Partnerships:CollaborationwithNHP,todeliverInfoSyteenergymanagementsoftwaresolutiontailoredfortheAustralianandNewZealandmarkets,poweredbySwitchAutomation(October2016).AlsopartnerwithMicrosoftforAzureandwithIntelandDellforgateways.
MostImportantAchievementstodate:
• TheSwitchplatformwas6yearsinthemakingandtheyhavespentcloseto$7.5milUSDonit.
• Buildingtheteam,hiringtherightpeopleattherighttime.• Builtascalablesolutionthatdisruptedthebuilding-by-buildingmanagementapproach
likeneverbefore.Thismodelallowstheenterprisetomanagetheirentireportfolio;regardlessofgeographicmarketorsector.
• ProvedthemodelandsolutionbysecuringenterprisecustomerswhonowhavetheirentireportfolioontheSwitchPlatformandareusingthedatatoidentifyandsolvecostlyproblemsandproactivelymanageoccupantcomfort.
Customers:Switchcustomersincludetheworld’sleadingbanks,technologycompanies,REITs,universities,telcosandretailstores.8,000buildingsusetheSwitchplatform.
TargetMarkets:FocusedonCommercialRealEstate,REITsandCorporateRealEstateinAustraliaandUSA.
GrowthStrategies:
• SeriesAfundingroundplannedforearly2017• ExpansioninUSmarketandbeyond• Expandthechannelpartnerecosystem.
http://memoori.com
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Verdigris Technologies
Established:VerdigrisTechnologieswasestablishedin2011
Location:VerdigrisislocatedinSiliconValleyattheNASAAmesResearchParkatMountainView,California.
Founders:MarkChungandJonathanChu.
Management:MarkChung,CEO
NumberofEmployees:20/Oct2016
FundingStage:SeriesAextension/Oct2016
TotalFunding:$16.56million
Investors:JabilCircuit,VerizonVentures
CategoryofBusiness:BuildingInternetofThings
EstimatedSales(2016):Revenuesinsingledigit$millions.
TargetMarkets:GeographicfocusisondomesticU.S.companiesinhospitality,manufacturing,andhealthcarefacilities.Thecompanydoeshaveapresencein10countries.
InthepastsixmonthssinceMar2016,Verdigrishasachievedincreasedtractioninhospitality,manufacturingandcommercialpropertyverticals,with5xgrowthinthenumberofsubscribingcustomers,and75%ofbudget-qualifiedpilotcustomersconvertingtopayingcontracts.
Buildingstockfocusisonlargeindustrialandcommercialbuildings,withandwithoutaBMS.
Offering:VerdigrisBuilding.AIiscloudanalyticssoftwareforenterprisefacilitiesmanagersandlargecommercialbuildings.Itallowsthemtooptimizeoperations,increasefacilityuptime,andsaveonenergycosts.
InAug2016,VerdigrislaunchedEinstein,theirlatestIoTenergymanagementplatform.Itisdesignedtobetheeasiestmost-scalableconnectedsensorforcomplexenterprisefacilities.ByanalyzingEinstein’scontinuousstreamofenergydata,Verdigrisdrivessmarterandmoreresponsivebuildingoperation,savingcustomerstensofthousandstomillionsofdollarsannuallyonenergycosts.VerdigrisCEOMarkChungsays:“Einsteinmakesitunbelievablyeasytoknowwhat’shappeninginsideyourbuildinginrealtime,downtoasingleappliance.
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“Weputhard-earnedmoneybackintoourcustomers’pocketseachmonthbypredictingthemostaccurateforecastsofutility,weatherandenergydata,andautomatingthereductionoftheirmostinefficientenergyoperations.”Customers : VerdigriscustomersincludeStarwoodHotelsGroup,HyattHotelsCorporation,Flextronics,Autodesk,Honeywell,IntercontinentalHotels,Jabil,Marriott,MegabessandNRG.
Differentiation:Verdigrisoffersanintegratedcloud-basedsoftwareplatform(SaaS)andproprietarysensorsattachedtotheelectricpanelinbuildings.Ithasahighlevelofgranularityindataanalysisandadvancedmachinelearningalgorithms.TheirofferingisnotreliantonaBMS,theyofferthelatestgenerationofproductsandalowercostsolution.
Competition:Competingwithestablishedincumbents,suchasSiemens,HoneywellandSchneiderElectric.
MostImportantAchievementtodate:In2016,EinsteinplatformwasthefirstULcertifiedsystemforretrofitincommercialbuildings
GrowthStrategy/BusinessDevelopment:Thecompanyisstillatanearlystageindevelopment.Theyaremovingtowardscommercializationandhavethreemajorapproachesforgrowth:
• Directcustomeracquisition,whichwilltakesometimetoestablish• Partneringwithenergyservicecompanies• Partneringwithtelecoms/ITplayerswhoaremovingintothissector.Verdigrisregards
thischannelaspotentiallydisruptivetotheincumbentplayers.