New Zealand-based proptech company Tether has secured NZ$655,000 (A$592k) to support its expansion into the Australian and European markets. The funding was sourced from high net worth individuals across three continents, allowing Tether to avoid venture capital financing.
Crowdfunding Success
In May 2023, Tether raised an additional NZ$844,050 through the crowdfunding platform Snowball Effect, bringing their total funding to $1.5 million (A$1.36m).
Innovative Building Management
Founded in 2017 by Brandon Van Blerk, Tether provides facilities managers with a platform to monitor building analytics, helping to reduce carbon footprints and costs. The company’s locally manufactured sensors, which are as easy to install as smoke alarms, offer immediate insights into performance benchmarks. They also provide predictive maintenance reports and suggest actions to optimize heating, cooling, and lighting systems, while addressing air and indoor environmental quality hazards.
Enhanced Compliance and Reporting
Tether’s platform aids in ensuring that building upgrades achieve their intended cost and carbon reductions, simplifying energy reporting and ESG compliance. Its notable clients include Westpac, Douglas Pharmaceuticals, BRANZ, and Kainga Ora. Recently, Tether installed its 10,000th sensor in a New Zealand building.
Advanced Technology
The sensing devices developed by Tether do not require WiFi connections and are self-powered, functioning as mini radio broadcast stations that communicate in real-time with a cloud-based analytics platform. Unlike systems that monitor a single data source, Tether’s platform integrates and analyzes multiple datasets, acting as a ‘facilities team coach’ to remove the guesswork from optimizing building systems.
Unified Monitoring
Van Blerk emphasized the importance of a unified approach to building performance monitoring, which Tether’s platform addresses by integrating various technologies, including occupancy sensing, air and water quality monitoring, and smart meters for electrical consumption.
Global Expansion
After establishing a strong presence in New Zealand and gaining early customers in Spain, Tether is set to expand into Australia, the UK, and the rest of Europe. This expansion is supported by a partnership with Ricoh and their workplace experience platform, RICOH Spaces.
CEO’s Vision
“Our funding round and expansion into new markets signify more than just growth — they represent our commitment to driving a more sustainable, data-driven future of work,” said Van Blerk. “By leveraging real-time data, Tether empowers organizations to significantly reduce their carbon footprint and enhance workplace health. We’re pioneering a future where buildings not only meet but exceed their performance goals.”
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By Proptechbuzz
By Ravi Kumar