Facilio raises USD 35m for real estate AI initiative
DUBAI, UAE; NEW YORK CITY, USA, 22 February 2022: Property operations software platform company, Facilio said it has raised USD 35 million in Series B financing led by Dragoneer Investment Group, with participation from Brookfield Growth and existing investors, Accel India and Tiger Global Management.
L-R: Yogendra Babu, Co-founder and CTO, Facilio; Prabhu Ramachandram, Co-founder and CEO, Facilio; Krishnamoorthi Rangasamy, Co-Founder, Revenue & Business Operations, Facilio; and Rajavel Subramanian, Co-Founder, Head of Product, Facilio
“Our customers understand that success in a post-pandemic world will be achieved by driving efficiency gains and delivering smooth customer experiences,” said Prabhu Ramachandran, Founder & CEO, Facilio. “We are uniquely positioned to accelerate digital transformation in the built world and lead the industry’s transition towards IoT-led connected buildings. This investment will allow us to extend our market leadership, expand sales and marketing, and enable more companies to reach success through a predictive, connected model of real estate operations.” Facilio claimed it has emerged as a next-generation leader in the USD 50 billion commercial real estate-focused operations software market.
It said it has established a broad, global customer base and is rapidly gaining share with faster-than-market-sales growth across multiple geographies.
The company said its growing list of portfolio-scale deployments include commercial office buildings, retail chains, hospital systems and higher-education campuses.
Eric Jones, Partner, Dragoneer Investment Group, said: “Facilio has unlocked a world of potential with its AI-based predictive approach to increase operational effectiveness. We were blown away by the customer-love that Facilio receives from their diverse roster of global clients. The company is on its way to revolutionizing operations for real estate portfolios, and we are proud to support this customer-obsessed team.”
Facilio said it excels in guiding real estate portfolios through their digital transformation journey with its advanced IoT-native and mobile-first product offerings. As a result, it said, many leading organisations dealing with outdated solutions from incumbent vendors are turning to it for digital support.
Josh Raffaelli, Managing Partner, Brookfield, said: “We have been customers of Facilio, and now it’s incredible to be a partner in their journey. What Prabhu and the team are building isn’t merely a great product portfolio but a movement towards data-led property operations. The company is writing the blueprint for how modern real estate portfolios will operate in the next decade and beyond.”
BACnet International welcomes Netix Global as newest member
DUBAI, UAE; Atlanta, United States, 9 May 2021: BACnet International said Netix Global has become the latest company to join the BACnet community as a Gold member. Headquartered in Hoofdorp, in the Netherlands, Netix is a IoT- and AI-based advanced building automation systems provider, whose products and solutions include BAS/BMS, metering and energy savings, enterprise security and smart city integration.
“Netix is a fast-growing company that would continue to be associated with bespoke and globally accepted testing bodies like BACnet International,” said Sanjeevv Bhatia, CEO, Netix. “It gives customers and stakeholders the necessary confidence for ready acceptance, especially in newer markets.”
Netix said it joins more than 150 leading building automation suppliers as BACnet International members, supporting the promotion of BACnet as a global communications protocol. Andy McMillan, President and Managing Director, BACnet International, said: “Netix is a wonderful fit for the BACnet International community. They are taking advantage of new technologies to further enhance building automation capabilities in data analytics and energy management, which are critical to effectively and efficiently managing facilities in smart city solutions.”
Empower reveals AED 901 million net profit in 2020
According to Empower, performance in a nutshell
- Total cooling capacity crossed 1,640,000 RT, maintaining the position of the largest district cooling provider in the world
- Over 140,000 customers
- Total energy saving AED 3.4 billion in 2020
- A total of 350.474 kilometres of district cooling networks
DUBAI, UAE, 20 January 2020: Emirates Central Cooling Systems Corporation (Empower) reported a net profit of AED 901 million, with a total revenue of AED 2.26 billion in 2020. Making the announcement through a Press release, Empower said its revenues grew by three per cent, with a net profit increase of 3.4% year-over-year (YoY). Empower added that the performance has been commendable, given the difficult economic conditions resulting from the global pandemic.
Commenting on Empower’s financial results at the annual press conference, Ahmad Bin Shafar, CEO, Empower, said: “2020 has been another successful year for Empower, with growth in its financial as well as operational performance, which is clearly evident from increase in revenues and net profit, additions in the number of district cooling plants, expansion of district cooling pipeline network, increase in customer base and the number of buildings connected with our district cooling services.”
According to Empower, the number of buildings it provides with its district cooling services exceeded 1,252, and the customer base has reached more than 140,000. The total cooling capacity has reached 1,640,000 Refrigeration Tons (RT) during 2020 that covered various projects, such as Deira Waterfront, Blue Waters, Jumeirah Group, Jumeirah Beach Residence, Dubai International Financial Centre, Business Bay, Dubai Healthcare City, Jumeirah Lake Towers, Palm Jumeirah, Discovery Gardens, Ibn Battuta Mall, Dubai Design District and International Media Production Zone, amongst others, the utility said.
“Empower has also saved a total of 1,312 MW of electricity worth AED 3.4 billion, as of the end of 2020,” Bin Shafar said.
On the sidelines of the press conference, Bin Shafar also said: “We are proud of our achievements in terms of increased number of district cooling plants that has reached 84 plants across Dubai, including the world’s first unmanned district cooling plant in Jumeirah Village Circle project, along with having the largest district cooling network.
“Empower is committed towards efficient utilization of energy resources and supporting its customers and real estate developers, by providing high-quality and eco-friendly district cooling services.”
Bin Shafar also stated that Empower had reduced its fuel surcharge rates by approximately 25%, effective December 1, 2020, in line with the initiative of the Dubai’s Supreme Council of Energy.
He added: “We will continue our endeavors in 2021 to increase the number of district cooling plants and expand our district cooling network across Dubai.”
