Toronto’s SensorSuite announced today the successful closing of over half a million in funding from Extreme Venture Partners, Business Development Bank of Canada, and private angels.
SensorSuite is an Internet of Things (IoT) company that provides innovative wireless monitoring and energy saving solutions for multi-residential, commercial, and industrial buildings.
This funding will support growth plans for SensorSuite’s project pipeline and fuel the development of its disruptive monitoring and energy management platform.
Smart buildings are already a $35 billion global business growing 55% annually, and yet over 90 percent of commercial buildings don’t have advanced building systems.
SensorSuite’s unique system overcomes the traditional installation barriers to retrofitting existing buildings with energy saving control systems – the rewiring.
When compared with wired solutions, SensorSuite delivers significantly shorter payback periods, especially in retrofits, and in some cases is the only viable solution for electrically heated buildings.
SensorSuite’s solution implements advanced mobile commissioning apps, as well as a highly reliable and scalable wireless network architecture suitable for controlling a single suite, entire floor, or multi-building installation.
“SensorSuite is applying the kind of big data analytics we have seen in other domains to make commercial buildings smarter and maximize value to building managers and owners” said Sunil Sharma, Managing Partner of Extreme Venture Partners.
SensorSuite’s advanced sensor networks and control systems are currently deployed in three million square feet of commercial space across customers in grocery stores, hotels, gyms, condos, and multi-residential apartment buildings.