Bethesda, Maryland-based GreenGen Ventures has made a $125,000 equity investment in Frederick, Maryland-based Datakwip as part of the startup’s ongoing seed round.
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 last year.
Founded in 2016, Datakwip is the curator of a cloud-based energy analytics platform for smart buildings. The software company provides a platform that helps its customers reduce their energy usage by leveraging whatever existing equipment they have.
This investment from GreenGen is part of an ongoing $1.5 million seed round that also includes investments from TEDCO, University of Maryland’s Momentum Fund and the Chesapeake Bay Seed Fund, GreenGen spokesperson Jenny Wang told Technical.ly.
With this investment, GreenGen CEO Brad Dockser has joined Datakwip’s advisory board.
“Having been a Datakwip client for more than a year, we’ve witnessed firsthand the ease with which Datakwip’s platform can be integrated across assets in the built environment,” said Dockser in a statement. “We at GreenGen are committed to helping place Datakwip where they belong — at the forefront of PropTech innovation.”
With five pending patent applications for its portfolio of products, Datakwip is operating in more than 30 buildings, per a press release. As a preferred supplier for Datakwip, GreenGen will assist the company with its growth and expansion plans.
“We recognize how paramount it is to have partners like GreenGen who can help us deliver our solutions to market and provide a high level of continuity to end users,” said Datakwip CEO Cory Perdue. “We’re very pleased to have GreenGen as a strategic partner who can help us optimize and improve our solutions with real-time feedback and market expertise.”
Last year, GreenGen launched a similar partnership through an investment in Vienna, Virginia-based Senseware, a full-stack IoT solutions provider for energy efficient buildings. The venture firm led a $150,000 round of financing for the company as it planned expansion in the real estate investment market.
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