A cleantech startup 75F Inc. based in India and the US has raised $18 million in Series A round of financing which was co-led by Breakthrough Energy Ventures, a $1 billion fund by Bill Gates, Jeff Bezos and Michael Bloomberg, and Oil & Gas Climate Initiative (OGCI).
This would mark the first OGCI investment in the building space.
Revolution’s Rise of The Rest Seed Fund and Clean Energy Trust also participated in the round from Building Ventures which took the company’s total funding to $25 million to date.
The company will be using the funding to invest in R&D while also upgrading their office spaces in both the Twin Cities and Bangalore, India, as well as opening up an additional office location.
Deepinder Singh, CEO of 75F Inc 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, APAC, Middle East, China, and Australia.”
75F started in 2012 and provides energy-efficient, Internet of Things (IoT) powered wireless building automation for a commercial building. It also provides vertically-integrated smart building solution which also includes wireless sensors, equipment controllers and cloud-based software, which gives predictive, proactive building automation.