SALT LAKE CITY, UTAH — Utah-based construction technology firm PassiveLogic recently announced it has received $16 million in funding to support its autonomous building system technology.
The company, creators of the first fully autonomous building controls platform, will be supported by venture capital funds Keyframe Capital and Addition in the Series A phase, stated an Oct. 14 release.
Keyframe is an investor in physical infrastructure innovation and Addition invests in early and growth-stage companies.
Other investors include RET Ventures, A/O Proptech and NREP, representing the commercial real estate industries in the U.S. and Europe.
The U.S. Department of Energy will follow the Series A investment with a $1.1-million contract to develop an industry digital twin technology standard for automation systems.
PassiveLogic was founded in 2016 by Troy Harvey and Jeremy Fillingim to bring autonomous controls advancements from self-driven vehicles to the larger buildings market, with a plan to democratize the technology so that users can design their own custom autonomous systems without needing an engineering team, explained the release. PassiveLogic’s autonomous building systems can be installed in new buildings or retrofitted in one-tenth the time of conventional HVAC controls and can reduce energy consumption by 30 per cent.
“PassiveLogic addresses a critical and large market need that has been consistently underserved by existing building automation companies,” said John Rapaport of Keyframe Capital in a statement. “PassiveLogic has the controls architecture, unique autonomous building technology and ease of configurability to give building operators the controls they have been promised for years to close those efficiency gaps, at a cost that will work for all building sizes.”
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