April 21, 2020, Hong Kong – Real estate private equity firm Gaw Capital Partners announced today that through a separate account investment, it co-led with Openspace Venture in a Series A+ round of financing totaling US$8.3 million for SensorFlow, a Singapore-based proptech startup that helps hotels and commercial properties optimize their energy and operational efficiency. Gaw Capital Partners, through a separate account investment, also led the Series A2 fundraising round, together with Allectus Capital, MetaProp and RealTechX, totaling US$5 million for Switch Automation, a global real estate software company that helps property owners and facility managers reduce operating costs, improve energy efficiency and deliver exceptional occupant satisfaction.
SensorFlow offers hotels the ability to automate heating, ventilation and air-conditioning (HVAC) systems, monitor equipment performance, and optimize housekeeping routes with a solution that combines Internet of Things (IoT) technology and artificial intelligence. To date, their solutions have created savings of between 30 and 50% on hotel HVAC costs, which amount up to 30% of total hotel energy bills.
Switch Automation’s Switch Platform integrates building data, systems and equipment to give actionable insights into site and portfolio performance. It integrates with traditional building systems, as well as IoT technologies, to analyze, automate and control assets in real-time.