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Building Control Startup Passivelogic Inks Partnership With Nvidia, Secures $15M

Sep 20, 2022•almost 3 years ago

Amount Raised

$15 Million

Salt Lake CitySustainabilityReal EstateArtificial IntelligenceScience And EngineeringOtherData And AnalyticsInformation TechnologySoftware

Description

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 Information

Company

PassiveLogic

Location

Salt Lake City, Utah, United States

About

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.

Funding Insights

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