Bethesda, Md.-based GreenGen Ventures is leading a $150,000 round of financing for Vienna, Va.-based Senseware, a full-stack IoT solutions provider for energy efficient buildings. This investment comes as Senseware plans to expand its business in the real estate investment industry, a press release states.
GreenGen Ventures is proud to announce our #investment in @mySenseware, whose IoT solutions reduce building operations costs and improve #sustainability! #proptech #OperateInTheGreen #ventures @SereneMomenhttps://t.co/HSOgt8PiP5
— GreenGen (@GreenGenSol) June 12, 2019
GreenGren Ventures is the venture arm of GreenGen, a company that curates an energy data analytics platform. The corporate company launched in 2009, while the venture firm launched this year, Jenny Wang, a media rep from GreenGen, told Technical.ly. This investment is the first for the venture firm, as it prepares for its official launch.
Senseware launched in 2013 with the creation of a solution that collects energy use data for buildings, like plumbing and electrical, to provide actionable insights. GreenGen CEO Brad Dockser said in the press release that GreenGen has been working with Senseware since 2017, so this isn’t the first time the pair will be partnering.
“Having been long-term strategic partners with Senseware, we have seen first-hand Senseware’s significant impact on building operations costs and energy efficiency,” Dockser told Technical.ly. “We strongly believe in the opportunity for Senseware to rapidly expand its business in the real estate investment industry. Senseware’s systems are already deployed in over 750 buildings globally, and it counts real estate giants among its clients.”
Senseware owns 26 IoT-related patents, with its clients ranging from the U.S. to three other countries. Some of the company’s notable clients include Cushman & Wakefield, EastBanc, Boston Properties and B.F. Saul Company.
“I am proud to partner with GreenGen to help take our company to the next level,” Serene Almomen, CEO of Senseware, said in a statement. “Our mission is to use technology to provide a fast path to real energy savings. We will benefit greatly from GreenGen’s expertise and hands-on approach and expertise.”
Dockser said the investment does not come with any employment changes at this time.
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