Aquicore announced today it closed a $3.1 million funding round, led by global startup incubator and seed fund 1776. Offering comprehensive building energy analytics and process automation solutions, Aquicore has become known as a technology leader in real estate’s emerging Internet of Things economy.
1776’s investment in Aquicore is one of the first for 1776 since its Seed Fund closed in early July. With this funding round, Aquicore, which has shown significant traction after launching in 2013, will continue expansion into key markets across the country.
“Today there are nearly 6 million commercial and industrial buildings in the United States operating with limited energy insights because their utility meters are disconnected and hidden in basements,” said Aquicore founder and CEO Logan Soya. “We want to ‘light up’ these 250 million meters, bringing data online to provide real-time, actionable intelligence. Doing so could save an estimated $40 billion annually and significantly reduce greenhouse gas emissions—cutting nearly 30 percent of unnecessary consumption.”
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