Detroit-based startup KODE Labs proudly announced its successful $30 million Series B funding round, led by Maverix Private Equity with support from TELUS Ventures and I Squared Capital, aimed at propelling global net-zero building emissions.
The latest capital flow sets a new milestone for KODE Labs, empowering the company to empower the sustainability of buildings worldwide.
Notably, Kodel Lab's was founded in 2017 by Edi and Etrit Demaj, along with Gentrit Gojani, the company is dedicated to enhancing the intelligence, health, and efficiency of buildings, thereby improving the lives of their occupants.
Etrit Demaj highlighted the critical nature of the company’s mission, noting,
"Buildings are responsible for 39% of global carbon emissions, underscoring the urgency to transform how they operate to better protect our environment."
He further expressed enthusiasm about the support from their investors:
"With Maverix's leadership, TELUS Ventures' follow-on investment, and ongoing backing from I Squared Capital, we are ideally positioned to advance our mission and address climate change by enhancing building energy efficiency and user experiences."
Furthermore, KODE Labs has adopted an innovative approach in the smart buildings sector with its enterprise platform, KODE OS. Such advanced system harmonizes data from various building management systems, IoT devices, and operational systems into a single, cloud-based platform.
Edi Demaj commented on the operational success achieved through their technology,
"Our platform not only streamlines building operations but also significantly cuts energy consumption and carbon emissions by up to 30%, delivering substantial ROI."
Peter Hass, Partner at Maverix Private Equity, praised KODE Labs' team and their innovative approach, saying,
"KODE is instrumental in making real estate portfolios sustainable and truly smart. Their exceptional management and cutting-edge technology are exactly why we’re thrilled to support their growth."
Conclusion
With a consistent track record of doubling annual recurring revenue over the past three years, KODE Labs is set to further develop its AI capabilities and continue transforming building operations and experiences.
This Series B funding highlights KODE Labs' commitment to sustainability and improved building management. As KODE expands in North America, Europe, and Australia, it reinforces its leadership in transforming the smart building industry.
