- Award-winning British innovator Demand Logic announces significant investments from Ashcombe, Grosvenor, PiLabs and others.
- Industry expert Gavin Starks has been named the new chairman of the board.
- The funding will help Demand Logic scale its award-winning solutions that identify and deliver energy and carbon cost savings.
- The capital injection supports Demand Logic’s ambitious growth plans to help major commercial real estate players meet their zero-net goals.
- Demand Logic’s solutions reduce energy consumption and carbon emissions by up to 30% and reduce comfort complaints.
Today, (Wednesday 22 June 2022) Logic of the question successfully closed a pre-Serie A investment round led by Ashcombe and supported by Grosvenor and PiLabs. The funding also marks an important milestone in the transformation of the commercial real estate sector as it includes the first award from Grosvenor’s new alternative investment team, which has £ 65m to be allocated to early stage European companies able to accelerate the achievement of its ambitious environmental, social and commercial goals, along with broader opportunities that include areas such as renewable energy generation.
The funding will initiate a new phase of growth for Demand Logic with a focus on strategic partnerships with major players in the commercial real estate sector, helping them to reach ambitious emissions targets ahead of the UK’s target of reaching net zero by 2050.
In its first post-investment move, the award-winning prop-tech firm also announced the appointment of Gavin Starks as chairman of the board. Gavin comes with over 20 years of entrepreneurial and C-Suite experience, including as founding CEO of the Open Data Institute, environmental intelligence company, AMEE, and net-zero data company, Icebreaker One. The capital injection will help the company implement its solutions to decarbonise buildings using its award-winning data-driven collaboration platform. It is significant that Grosvenor, who is already a customer and user of the platform, and is now also an investor, will further roll out the technology in their UK portfolio. The move indicates industry confidence in Demand Logic’s technology and capabilities, which have already identified over £ 15m in energy savings for their customers. PiLabs, an original prop-tech investor, has demonstrated its continued confidence in this latest round.
Mike Darby, CEO of Demand Logic, said:
“This investment underlines the confidence that both the real estate sector and investors have in our technology as a key to reducing the impact of buildings on climate change. Demand Logic is by far the fastest route to net zero for real estate stakeholders. This funding, and the huge injection of industry experience from our new president Gavin Starks, marks an upward shift for Demand Logic as we intensify our intensity and determination to decarbonise the commercial real estate sector. We are now recruiting from all parts of the company, so contact us if you feel you have what it takes to help us. “
On his appointment, Gavin Starks said:
“Demand Logic has developed a proven best-in-class solution for commercial property owners to radically reduce energy bills and emissions. Buildings account for around 40% of carbon emissions and improving their efficiency is an easy win for everyone. Given the combined pressures on energy costs, reducing emissions and creating a measurable impact, now is the ideal time to scale. ”
Simon Bullivant of Ashcombe said:
“Since we first met Demand Logic we have been struck by the enormous potential the company has to transform the built environment. We have seen that both the team and the technology have earned the trust of customers as they offer a market-leading solution to improve building performance and save energy. We are delighted to lead this important investment and look forward to helping the company achieve its goals. “
Andy Doyle, Innovation Director, Grosvenor Property UK commented:
“We are advocating innovations that will help us respond to changing business, occupant and customer needs in an era of climate change. As an investor and customer of high-potential young businesses, we can accelerate the commercial development of key solutions to decarbonise the impact of the built environment, while improving the range and quality of services we offer to our customers. “Demand Logic’s simple and intelligent software supports our goals to reduce the carbon and running costs of our buildings. During our three years of partnership, the service levels, speed of implementation and insights, as well as depth of analysis, have been particularly impressive; and with the results we have experienced ourselves, we are excited about the opportunity to support the company’s long-term growth. “
Faisal Butt, CEO and founder of Pi Labs said:
“One of the obstacles preventing property owners and managers from improving the energy performance of their assets is usable data and we were confident that Demand Logic might be the missing piece of the puzzle when we first invested in them in 2018. We are thrilled to see how far the team has come and am thrilled that our next investment in this round will see us continue to support them on their growth path. “
NOTES FOR DRAFTING
Logic of the question
Demand Logic is a UK-based innovation company providing property and building managers with an award-winning collaboration platform that has so far identified savings worth over £ 16 million. The platform provides useful information to property managers and construction contractors.
Since its inception in 2007, Demand Logic’s platform has helped reduce carbon emissions by 10% -30%, reduce comfort complaints and save on maintenance. It is the fastest technology of its kind to deploy in less than 24 hours. It aims to provide quantifiable benefits in a short amount of time and to simplify building management.
Demand Logic uses real-time operational data to prioritize actions that resolve faults, reduce energy and improve comfort. When Demand Logic is used as a collaboration tool in standard operating procedures, ownership will perform better and more profitably.
Grosvenor is an international organization whose activities include urban property, food and agtech, rural property management and support for philanthropic initiatives.
We are a values-based company representing the Grosvenor family and we share a common purpose – to provide lasting commercial, social and environmental benefits – by responding to today’s needs, taking responsibility for those of future generations.
Our UK real estate business started in London’s West End, where we now support around 11,000 residents, around 1,000 businesses and 60,000 workers every day. We also invest and create sustainable neighborhoods and properties across England.
As part of a global family-owned business, we have pioneered change and new ways of thinking about property and places for over 340 years. Thinking long-term allows us to give equal weight to the environmental, social and commercial impact of everything we do.
Demand Logic secures a Seed Follow On investment led by Ashcombe – UK Tech Investment News
Source link Demand Logic secures a Seed Follow On investment led by Ashcombe – UK Tech Investment News