Proptech startup SensorFlow secures US$8.3M in Series A+ funding led by Openspace Ventures, Gaw Capital Partners
Singapore-based proptech startup SensorFlow announced that it has raised a US$8.3 million in Series A+ funding led by Openspace Ventures and Gaw Capital Partners. The company said it plans to use the funding to develop solutions for automating heating ventilation and air-conditioning (HVAC) systems that help hotels manage COVID-19, hiring new talent in hardware and data science roles and for international market expansion.
This round follows SensorFlow’s Series A funding in February 2019, which was led by private investor and finance sector veteran Pierre Lorinet, with participation from Cocoon Capital and Playfair Capital.
Founded in 2016, SensorFlow offers buildings, including hotels, offices and industrial spaces, the ability to automate HVAC systems, monitor equipment performance, and optimise housekeeping routes through Internet of Things (IoT) technology and artificial intelligence-driven solution. The solution generates up to 30 to 50 per cent of savings on hotel room HVAC costs, which can translate up to 30 per cent in savings on total hotel energy bills.
SensorFlow’s wireless IoT solution features real-time data tracking to help properties monitor energy consumption trends and make better-informed operational decisions based on big data. Wireless sensors gather data on guest behaviour within hotel rooms and the system optimises energy usage automatically and activate maintenance alerts when it detects faulty equipment, reducing disruptions to the guest experience.