The global building management market, which is projected to reach $177 billion by 2030, is witnessing a surge.
While the potential of new technologies and the push for sustainability are expected to steer economic activities, the Smart Buildings sector stands to benefit significantly from these advancements. Innovations such as improved automation, energy optimization, and intelligent facility management in particular present significant opportunities.
MODE, which specializes in AI-driven data management for building management, factories, and construction sites, is one of the companies gearing to be at the forefront of this, announcing this week its new $5.3 million funding round.
The investment comes from prominent backers including KDDI Open Innovation Fund III, Canon Marketing Japan, KIRIN-GB Fund and Safie Ventures, and will be used to improve upon the company’s AI Energy Assistant.
Said Gaku Ueda, the company’s CEO, “We are committed to providing AI-driven solutions that simplify data management in the physical world.”
“This additional funding allows us to accelerate the development of our AI Energy Assistant, making it easier for building managers to access crucial data and make informed decisions instantly to meet modern expectations and cut energy consumption by up to 20%,” added the executive.
The go-to AI assistant for smart buildings, MODE is already making waves in the industry, optimizing building performance with tech-powered insights to:
Reduce Energy Waste
By leveraging AI to identify and eliminate inefficiencies in a building’s energy consumption.
Improve HVAC Optimization
Via optimizing HVAC systems to achieve maximum comfort and efficiency, reducing costs and carbon footprint.
Enhance Tenant Satisfaction
Through creating a more comfortable and productive environment for tenants by optimizing building systems based on their needs.
Started in 2014 in Silicon Valley, MODE was founded by tech superstars Gaku Ueda (article’s featured photo) and Ethan Kan. Its growing team operates out of the San Francisco Bay Area and Tokyo.
The funding looks to be part of ambitious plan by the company, who’s mission is to enable workers around the globe to connect with their data and gain valuable insights seamlessly.
Added Tomoaki Terakubo, Senior General Manager, Solution Development Center, Marketing Headquarters at Canon Marketing Japan, “In light of a shrinking working-age population and rising labor shortages, operational efficiency has never been more important.”
“By combining our expertise in video data and digital documentation with IoT sensor-based insights, we aim to significantly boost the accuracy of generative AI and dramatically accelerate on-site digital transformation (DX), delivering next-generation productivity and innovation for our customers,” concluded the investor.
