Funding Alert

75F Raises $28 Million In Series A Funding From Siemens-Backed Firm

• ByStartupStory     |    July 16, 2021

75F, designer and manufacturer of IoT-based building management systems, announced a new investment from a German conglomerate Siemens AG, global venture capital firm raising USD 28 million in series A funding. Next47, a global venture capital firm backed by Siemens, led the investment on behalf of Siemens Smart Infrastructure, said a statement from 75F. Siemens AG joins previous investors including Bill Gates’ Breakthrough Energy Ventures, Climate Initiative, and WIND to accelerate company expansion, ‘The latest influx in 75F’s Series A funding round brings the Minneapolis-based company’s total funding to USD 28 million,’ it said. 75F designs and manufactures IoT-based building management systems. It leverages IoT (Internet of Things), cloud computing and machine learning for data-driven, proactive building intelligence and controls for HVAC and lighting optimization.

Henning Sandfort, CEO of Building Products at Siemens Smart Infrastructure said: ‘This investment signals a broader industry shift toward energy efficiency and the technologies that make those savings accessible to more customers.” 75F founder and CEO Deepinder Singh said: ‘We are honored to have the support of global leaders like Siemens.” According to 75F VP and APAC President Gaurav Burman Asia-Pacific region is a key part of 75F’s global road map and represents a unique opportunity.

He further added, ‘We have been gaining ground in this market, growing at triple-digits year-on-year, and see promise for continued growth in an addressable market of USD 10 billion. We are targeting success in various directions such as expanding to new countries, addressing new customer segments, developing new products and a new platform, and we look forward to delivering better services to our existing clients.’

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