Detroit-based autonomous smart building start-up Kode Labs has closed a $30m series B round.

Founded by brothers Edi and Etrit Demaj, along with Gentrit Gojani, in 2017, Kode’s mission is to enhance the intelligence, health and efficiency of buildings, enriching the experiences of those who inhabit, work in, visit and enjoy them.

The money should let the company help buildings worldwide achieve net-zero emissions. Etrit Demaj said buildings accounted for a “staggering” 39% of global carbon emissions, making the transformation of building operations critical for the environment.

At the core of this lies Kode’s enterprise platform, which seamlessly integrates data from a multitude of building management systems, IoT devices and operational systems into a unified, cloud-based infrastructure. It has the capacity to standardise and organise data at scale across diverse systems and numerous buildings.

With this investment, Kode Labs will also enhance its AI development to innovate building operations and experiences. By analysing vast amounts of data from various systems, it aims to create buildings that prioritise human experience and environmental impact, envisioning a future where efficiency meets human-centric design.

Edi Demaj said Kode’s technology consistently achieved operational excellence, yielding significant outcomes such as reducing energy consumption and carbon emissions by up to 30%. The platform is used by Fortune 500 corporations, retailers, financial institutions and global real-estate investment trusts, catering to a wide array of sectors including commercial, mixed-use, high-rise residential, life sciences and industrial domains.

“Users prioritise a seamless experience over managing multiple screens and platforms,” said Edi Demaj. “Our platform serves as the definitive operating system, offering complete command and orchestration capabilities. Leveraging machine learning and artificial intelligence across billions of standardised data points, we enhance user experiences while delivering measurable return on investment in under 12 months.”

Spearheaded by Maverix Private Equity, this funding round also saw participation from Telus Ventures (www.telus.com/en/ventures) and existing investor I Squared Capital (isquaredcapital.com).

“Maverix’s leadership precisely aligned with our vision,” said Etrit Demaj. “With the follow on from Telus Ventures and continued support of I Squared Capital, we are in the best possible position to propel our mission forward and combat climate change by making all buildings more energy efficient while creating amazing experiences.”

Peter Hass, partner at Maverix Private Equity (maverixpe.com), added: “Kode is the leading company helping real estate portfolios become more sustainable, improve user experience and become truly smart. They have an exceptional management team, and we couldn’t be more excited to partner with them on their next stage of growth.”

Over the past three years, Kode’s annual recurring revenue has more than doubled, showing growth of over 200% each year.

Kode Labs (kodelabs.com) specialises in transforming real estate management and experience through its data-centric operating system, Kode Os. This smart building platform leverages a software-as-a-service (SaaS) model to optimise building performance, integrating data from building management systems, IoT and operational systems into a unified, cloud-based offering. The platform can reduce energy usage and carbon emissions by up to 30%, while streamlining costs associated with multiple tracking and reporting platforms.