KODE Labs, a Detroit-based autonomous smart building startup, has announced the successful closure of a $30 million Series B funding round. Spearheaded by Maverix Private Equity, with enthusiastic participation from TELUS Ventures and existing investor I Squared Capital, this milestone marks a significant step for KODE in its mission to aid buildings worldwide in achieving net-zero emissions.
Founded in October 2017 by brothers Edi and Etrit Demaj, along with Gentrit Gojani, KODE aims to enhance the intelligence, health, and efficiency of buildings to enrich the experiences of their occupants.
Etrit Demaj, co-founder of KODE Labs, emphasized the critical importance of transforming building operations due to buildings’ contribution of 39% to global carbon emissions.
“Maverix’s leadership aligned perfectly with our vision. With continued support from TELUS Ventures and I Squared Capital, we are well-positioned to advance our mission and combat climate change by enhancing energy efficiency and creating exceptional experiences in all buildings,” said Demaj.
KODE Labs has revolutionized the smart building landscape with its innovative approach, centered around its enterprise platform. This sophisticated solution seamlessly integrates data from various building management systems, IoT devices, and operational systems into a unified, cloud-based infrastructure. KODE’s ability to standardize and organize data across diverse systems positions it as a pioneer in AI technology tailored for buildings.
Co-founder Edi Demaj highlighted KODE’s consistent delivery of operational excellence, resulting in significant outcomes such as reducing energy consumption and carbon emissions by up to 30%. Fortune 500 corporations, retailers, financial institutions, and global REITs rely on KODE’s platform, spanning commercial, mixed-use, high-rise residential, life sciences, and industrial sectors.
“Our platform serves as the definitive operating system, offering complete command and orchestration capabilities. Leveraging machine learning and artificial intelligence, we enhance user experiences while delivering measurable return on investment in under 12 months,” explained Edi Demaj.
Peter Hass, partner at Maverix Private Equity, commended KODE as the leading company in sustainability and smart real estate portfolios, emphasizing its exceptional management team and expressing excitement for the partnership in its next stage of growth.
KODE’s annual recurring revenue has more than doubled over the past three years, showing consistent growth of over 200% annually. This substantial investment will fuel KODE Labs’ AI development to innovate building operations and experiences, envisioning a future where efficiency meets human-centric design.
Established in 2017, KODE Labs has been at the forefront of transforming the smart building landscape across North America, Europe, and Australia. Partnerships with renowned companies such as QuadReal, Bedrock Detroit, Stream Realty, Hines, and Ford have accelerated KODE’s expansion and market share.
As KODE Labs embarks on its next phase of growth and innovation, the Series B funding underscores the company’s commitment to forging a sustainable future, one smart portfolio at a time.
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By Proptechbuzz
By Ravi Kumar
