SALT LAKE CITY, UT, PassiveLogic today announced that the company has received $16 million in funding.
PassiveLogic, creators of the first fully autonomous building controls platform, today announced that the company has received $16 million in funding. Leading the Series A round are venture capital funds Keyframe Capital and Addition. Physical infrastructure innovation is one of the core segments that Keyframe invests in, and Addition invests in early and growth stage companies around the world. Other investors include RET Ventures, A/O Proptech, and NREP, representing the commercial real estate industries in the U.S. and Europe.
Founded in 2016, PassiveLogic is changing the future of the built environment by powering autonomous building systems and providing the foundation for smart cities. The current technology behind building controls has remained unchanged for decades. PassiveLogic reimagined how we design, build, operate, maintain, and manage our buildings using revolutionary "deep physics" Digital Twins, and AI-enabled future-forward controls. In a world increasingly impacted by climate change, PassiveLogic has developed a way to save one-third of building energy consumption by making building controls truly intelligent.
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