Partner Article

Climate analytics startup 720 Degrees raises €2.9 million in funding

720 Degrees, which offers the world’s first AI-powered indoor air quality analytics solution, has announced an additional €2.9 million in funding.

720 Degrees’ solution applies machine learning to indoor environmental quality analytics, interpreting billions of indoor air data points from hundreds of facilities each month.

Pi Labs, Europe’s leading proptech VC, has come on as a new investor, marking the VC’s first significant investment in Finland as part of the firm’s broader strategy to support the proptech ecosystem across the Nordics. 720 Degrees also received grants from Horizon 2020 and Business Finland having been selected onto the prominent Young Innovative Companies programme. The most recent funding takes the total amount raised to €3.54 million since 2014.

720 Degrees’ monitoring tool is already being used in hundreds of facilities across Europe, with notable clients such as CBRE, Colliers and IBM. With the new funding secured, the company is set to expand its operation across Europe, whilst developing its client footprint in a nascent US market.

Rick Aller, co-founder of 720 Degree commented, “Large property investors often consider the topic of ‘indoor air quality’ as only an expense item. Thanks to our solution, property investors can increase the value of their properties by significantly improving the quality of indoor air and occupant satisfaction.”

“We consider Pi Labs’ investment greater than its monetary value. Pi Labs is a recognised investor in the Proptech field, and they have the capacity to help us enter the UK market and to find strategic partners in the property sector,” added Aller.

Dominic Wilson, Managing Partner of Pi Labs, added: “720 Degrees’ solution facilitates property maintenance efficiency with an intelligent design never seen before in the property innovation ecosystem. By tapping into ongoing wellness and productivity trends in tandem, Rick and his team are well poised to aggressively seize market share both at home and abroad.”

This was posted in Bdaily's Members' News section by Jude Parveselli .