Building Control Startup Passivelogic Inks Partnership With Nvidia, Secures $15M
09/20/22, 8:02 PM
Location
salt lake cityMoney raised
$15 million
Industry
sustainability
real estate
artificial intelligence
science and engineering
other
data and analytics
information technology
software
About five months after raising $15 million, PassiveLogic, which provides a platform to autonomously control building systems, has secured an additional $15 million in an “off-round” strategic investment from Nvidia’s venture arm, nVentures. The new cash brings PassiveLogic’s total raised to over $80 million, and CEO Troy Harvey tells TechCrunch it’ll be put toward expanding the Utah-based company’s headcount from 100 employees to 140 within the next year.
Company Info
Location
salt lake city, utah, united states
Additional Info
Founded in 2016, PassiveLogic is changing the future of the built environment by powering autonomous building systems and providing the foundation for smart cities. The current technology behind building controls has remained unchanged for decades. PassiveLogic has reimagined how we design, build, operate, maintain, and manage buildings using revolutionary "deep physics" Digital Twins, and AI-enabled future-forward controls. In a world increasingly impacted by climate change, PassiveLogic has developed a way to cut energy consumption by one-third, by making building controls truly intelligent.