After securing US$2.7M in Series A funding last year, SensorFlow is proud to announce another successful fundraising of US$8.3M in a Series A+ round led by the leading technology venture, Openspace Ventures and internationally recognised real-estate private fund, Gaw Capital Partners. The round also included other prominent investors from the property and logistics industries, such as private investor Pierre Lorinet from Trafigura, and Aurum Investments.
The success of our latest funding round highlights the current and growing demand from the global hospitality industry for more sustainable and efficient energy management solutions. Presently, we have signed on by about 10,000 hotel rooms across Southeast Asia and recorded a 1,000% increase in hotel room installations in 2019 alone. Coupled with our well-established portfolio of global hospitality clients that are managed by world-leading hotel brands such Dorsett Hospitality International, Hyatt, The Ascott Limited and Accor, this significant growth has placed SensorFlow in a strong position to rapidly scale ourselves on a global level.
With this funding, we are excited to develop our smart building management solution further to help more large-chain hotels, commercial properties and industrial spaces in optimising their building efficiency, productivity and sustainability. By upgrading our solution for hotels’ fully-optimised operational productivity and inter-team communication, our improved productivity suite of new features will empower hotel staff to better strategise housekeeping/cleaning routes effectively and enable the engineering team to move towards developing advanced predictive maintenance strategies.
At the same time, our team is working together to develop our solution further to cater to more international markets, especially those with colder climates, like Japan, Australia, Europe, and the US. Although the current state of the global travel and hospitality industry is uncertain due to the global pandemic, SensorFlow is maximising this timely capital to support the industry’s recovery by ensuring that our advanced IoT solution is made accessible to all affected hotels and properties with our modified zero upfront cost, Pay-As-You-Save floating payment model. Similarly, this crucial funding milestone marks SensorFlow’s progress as we take another step closer to achieving our mission of installing 800,000 smart hotel rooms by 2022 and making smart buildings a reality worldwide.
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