KODE Labs, a Detroit-based autonomous smart building startup, has successfully closed a substantial $30 million Series B funding round, led by Maverix Private Equity. The round also saw enthusiastic participation from TELUS Ventures and existing investor I Squared Capital. This infusion of strategic capital marks a significant milestone for KODE, empowering the company to advance its mission of facilitating net-zero emissions in buildings worldwide.
Founded by brothers Edi and Etrit Demaj, along with Gentrit Gojani in October 2017, KODE is committed to enhancing the intelligence, health, and efficiency of buildings to enrich the experiences of their occupants. Etrit Demaj, co-founder of KODE Labs, highlighted the critical role of building operations in combatting climate change, with buildings currently accounting for a staggering 39% of global carbon emissions.
“Maverix’s leadership perfectly aligns with our vision,” stated Demaj. “With the continued support of TELUS Ventures and I Squared Capital, we are well-positioned to drive our mission forward, promoting energy efficiency and creating exceptional experiences for building occupants.”
KODE Labs has revolutionized the smart building landscape with its innovative approach, centered around its enterprise platform. This sophisticated solution seamlessly integrates data from various building management systems, IoT devices, and operational systems into a unified, cloud-based infrastructure. This capability to standardize and organize data at scale positions KODE as a pioneer in AI technology tailored for buildings.
Co-founder Edi Demaj emphasized the tangible outcomes delivered by KODE’s technology, including significant reductions in energy consumption and carbon emissions, often up to 30%. With a proven track record, KODE’s platform serves Fortune 500 corporations, retailers, financial institutions, and global REITs across diverse sectors, delivering measurable return on investment in under 12 months.
“Our platform acts as the definitive operating system for buildings, offering complete command and orchestration capabilities,” explained Edi Demaj. “By leveraging machine learning and artificial intelligence, we enhance user experiences while driving sustainable outcomes.”
Peter Hass, partner at Maverix Private Equity, expressed confidence in KODE’s leadership and vision. “KODE is leading the way in helping real estate portfolios become more sustainable and improving user experiences,” said Hass. “We are thrilled to partner with them on their next stage of growth.”
With an impressive annual recurring revenue growth of over 200% each year for the past three years, KODE Labs will utilize the Series B funding to further enhance its AI development. By analyzing vast amounts of data, KODE aims to create buildings that prioritize both human experience and environmental impact, envisioning a future where efficiency meets human-centric design.
Since its inception, KODE Labs has been at the forefront of transforming the smart building landscape globally, with partnerships established across North America, Europe, and Australia. This investment will accelerate KODE’s expansion and solidify its position as a leader in sustainable building solutions.
The Series B funding underscores KODE’s unwavering commitment to driving a sustainable future, one smart portfolio at a time.
