Detroit-based startup KODE Labs announced this week the closure of a $30 million Series B funding round. The round was led by Maverix Private Equity, with participation from TELUS Ventures and existing investor I Squared Capital. Detroit businessman Jay Farner, founder of Ronin Capital Partners, also participated in the round.
KODE Labs is a pioneering startup developing autonomous smart building technology. Founded in 2017 by brothers Edi and Etrit Demaj, along with Gentrit Gojani, KODE’s mission is to enhance the intelligence, health and efficiency of buildings, ultimately enriching the experiences of those who inhabit, work in, visit and enjoy them. According to Etrit, buildings account for 39% of global carbon emissions, and the transformation of building operations critical for the environment.
“Maverix's leadership precisely aligned with our vision. 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,” said Etrit.
Using a groundbreaking approach, KODE Lab's enterprise platform is a sophisticated solution that has redefined the landscape of smart buildings. Its technology seamlessly integrates data from building management systems, IoT devices and operational systems, turning it into a unified, cloud-based infrastructure.
Image courtesy of KODE Labs
"Users prioritize a seamless experience over managing multiple screens and platforms," explained KODE Labs co-founder 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 standardized data points, we enhance user experiences while delivering measurable return on investment in under 12 months."
By standardizing and organizing data at scale across diverse systems and numerous buildings worldwide, KODE Labs is a trailblazer in AI technology tailored for buildings. Their work has yielded significant outcomes, like reducing energy consumption and carbon emissions by up to 30%.
“KODE is the leading company helping real estate portfolios become more sustainable, improve user experience and become truly smart,” said Peter Hass, partner at Maverix Private Equity. “They have an exceptional management team, and we couldn’t be more excited to partner with them on their next stage of growth.”
For KODE Labs, that next stage includes scaling its platform, enhancing its AI development, and growing its team. By developing its AI technology, KODE Labs aims to create buildings that prioritize human experience and environmental impact, envisioning a future where efficiency meets human-centric design.
To learn more about KODE Labs, visit kodelabs.com. For media inquiries, reach out to Jake.
