I’m so excited that today Aquicore announced a $3.1 million funding round led by 1776, a global startup incubator and seed fund. With our comprehensive building energy analytics and process automation solutions, Aquicore has become a technology leader in real estate’s emerging Internet of Things economy.
Perhaps the largest challenge facing commercial and industrial buildings today is the lack of insight into building operations. There are nearly 6 million buildings with 250 million meters that are disconnected, hidden in basements, and withholding important consumption information. This is a huge gap that we want to close by providing intelligence and insights to building managers, property owners, and other key decision-makers.
We are working to change the way these buildings operate by bringing data online to provide real-time, actionable intelligence. This could save the country $40 billion annually and reduce our greenhouse gas emissions by 30%. Aquicore’s solution has already been deployed in over 500 buildings to streamline building operations, optimize energy efficiency, and lower utility costs – including properties owned by MRP Realty, Douglas Development, and The Tower Companies.
1776’s investment in Aquicore is one of the first since its Seed Fund closed in July. Aquicore has shown significant traction since its 2013 launch and will continue expansion into key markets across the country.
This round of funding will help us reach key stakeholders who need the insights our software provides to make a real impact on both the U.S. energy economy and the real estate industry.
As a representative of our lead investor, 1776 cofounder Evan Burfield shared his supportive thoughts on our company: “Aquicore has a transformative and highly scalable model to enable commercial property owners to rethink how they manage their energy and water consumption. It’s clear that Aquicore is poised for significant future growth, and 1776 is proud to lead this funding round.”
In the months ahead, you’ll hear more about our plans for growth and cutting edge solutions in smart building tech. We appreciate your continued support as we tap into real-time data to make buildings more intelligent and cut energy costs.