Aquicore announces $5 million Series A

Mount Vernon Square-based Aquicore announced a $5 million Series A on Wednesday. The round was led by Falls Church-based private equity firm Kiddar Capital and Silicon Valley-based Navitas Capital.
Aquicore, which creates software that helps commercial buildings monitor utility usage in real time, was founded in 2013. The company handles utility management for real estate giants like Vornado, Under Armour and Lincoln Property Company, and announced the opening of a San Francisco office in January 2016.
“With this new round of funding we will bring even more ambitious innovations to market, strengthening our vision to connect the physical and global environments to our digital one more seamlessly than ever before imagined,” founder Logan Soya said in a statement.
The investment is an interesting one for Kiddar Capital, a firm that, with the recent hire of Cheryl Foil, is now investing more in tech and innovation. As Kiddar has traditionally been in the real estate space, investing in Aquicore seems a suitable melding of legacy with new interest.
Aquicore previously raised a $3.1 million round led by the 1776 seed fund. According to a press release, 1776 was also involved in the Series A.