Reliance Industries-backed venture capital fund GenNext Ventures has announced an agreement to bring Ecorithm's "cutting-edge" software technologies to buildings in India.
The technologies analyze complex, dynamic systems through physics-based pattern recognition.
With 400 million square feet of Class A Buildings in India and over 100 million square feet under construction (Cushman & Wakefield, Marketbeat Office Snapshot Reports, 2015), India presents a significant opportunity to scale Ecorithm’s technologies.
“We have evaluated multiple energy management technologies from across the globe, and Ecorithm is clearly the next generation in building energy management. We are excited to partner with Ecorithm and bring their path-breaking and revolutionary technology to India. As we bring Ecorithm into India, we are keen to deploy the technology to optimize the energy efficiency of our buildings and raise the standard of environmental design and operation for buildings and enterprises to global levels."
"We believe that smart technologies will form the base for the Government of India’s smart city initiative. Ecorithm’s technology will be one of those smart technologies,” said Vivek Rai Gupta, Managing Director, GenNext Ventures.
Ecorithm’s True Analytics Platform enables any system capable of producing a continuous flow of sensor data, such as a building management system (BMS) in a commercial building or an industrial control system, to be optimized at a highly granular level, thereby saving energy while optimizing equipment performance and the resulting use, comfort and operability.
“We know that the Internet of Things (IoT) represents an enormous opportunity to change the way businesses are run and systems are optimized across virtually every industry. Our True Analytics Platform makes billions of otherwise incomprehensible data points understandable and usable. We make the Internet of Things make sense," Chris Tagge, President of Ecorithm, said.
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Updated Date: Sep 23, 2015 11:52:32 IST