Sensorflow bags $11.83m in series A+ funding

Funds will be used in developing solutions for HVAC systems.

Proptech startup SensorFlow has raised $11.83m in a series A+ round, led by Openspace Ventures and Gaw Capital Partners, according to an announcement.

The funding will be used to develop the company’s smart building management solution for heating, ventilation and air-conditioning (HVAC) systems, hire new talent, and expand to new markets globally. The solution generates up to 30% to 50% of savings HVAC costs and is aiming to address the needs of markets with colder climates in its development.

SensorFlow’s latest funding round was co-led by Openspace Ventures and Gaw Capital Partners. Other prominent investors who featured in the round were venture capital fund, Aurum Investments, and private investor and finance sector veteran, Pierre Lorinet.

This round follows SensorFlow’s Series A funding in February 2019 led by Pierre Lorinet, with participation from Cocoon Capital and Playfair Capital.

Meanwhile, SensorFlow is moving to a floating payment model instead of fixed payments, charging hotels on a pro-rated basis until the situation normalises. Hoteliers adopting this model will have zero net cost and benefit from energy savings or cost savings immediately.

The company is also developing smart wireless IoT solution features under the ‘Productivity Suite’ which help properties improve productivity and communication, and resolve HVAC issues through its ‘housekeeping view’ on the spot.

To date, SensorFlow has been signed on by about 10,000 hotel rooms across Southeast Asia and recorded a 1,000 percent increase in hotel room installations since 2019. The company expects rapid growth with existing client partners including hospitality clients managed by Dorsett Hospitality International, Accor, The Ascott Limited and Hyatt.