Cleantech firm 75F raises $18 million in Series A funding

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Cleantech firm 75F raises $18 million in Series A funding
Developing countries in Asia account for two-thirds of global energy growth

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PUNE: Cleantech firm 75F today said that it had raised $18 million in Series A funding, led by Breakthrough Energy Ventures and Oil & Gas Climate Initiative (OGCI).
The round also had participation from Building Ventures, Rise of the Rest, and Clean Energy Trust, making it the largest investment in the energy-efficiency technology category in the Asia Pacific region so far.
This takes the total funds raised by 75Fto $25million.75F, a US and India based company provides energy-efficient, Internet of Things ( IoT ) powered wireless building automation for commercial buildings.
Deepinder Singh, CEO, 75F, said, “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.”Developing countries in Asia account for two-thirds of global energy growth, driving the growth of energy efficient Smart Building Technology.
Gaurav Burman, APAC President, 75F said.
The capital infusion will help us build on our technological differentiation and accelerate the pace of our pan-APAC expansion.”While Burman declined sharing revenue details, he said that the company currently had over 10 million square feet of space under management.
“Six percent of global and 12 percent of U.S. greenhouse gas emissions released into the atmosphere come from buildings,” said Carmichael Roberts of Breakthrough Energy Ventures.
“We know we can combat this by designing the next generation of buildings, but we can also make significant gains by upgrading existing real estate with smart technology.
75F has created a unique software and hardware solution powered by machine learning that reduces energy costs and emissions at the same time.”In addition to the financial investment, the investors could also help open up industry partnerships for the firm which competes with other larger enterprises in this segment

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