R8tech, an Estonian start-up making building climate management efficient and environmentally-friendly, closes a 900,000 euro investment round.
Tallinn-based start-up R8tech has closed a funding round worth 900,000 euros that will allow the proptech firm, already active in 12 countries across the European Union, including Portugal, Finland, Austria, Netherlands and Poland, to expand into even more markets.
Founded in 2017, the R8tech takes advantage of the modern building management systems (BMS) found in large buildings such as shopping malls and business parks, adding artificial intelligence on top of these systems, which have thousands of sensors and data points.
Once the system is in place, it constantly monitors and optimises the indoor climate, detects faults in the system, and manages other tasks for the respective property management company. According to the R8tech, BMS operations are enhanced significantly by calculating and adjusting HVAC (heating, ventilation, and air conditioning) system set points every fifteen minutes, 24 hours a day and 365 days a the year.
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Over time, this results in energy savings of between 10 and 20 per cent per property and in turn leads to reduced CO2 emissions. An example R8tech gives is a 25,000 square metre government building in Tallinn where use of its system saved 31.5 per cent of energy and cut 225 tons of CO2 emissions over a period of four months.
Among other benefits, the R8tech system can integrate remotely with most common and modern building management systems and does so without the need for the installation of additional hardware. This provides a transparent overview of the building to all stakeholders, allowing them to see if a building is maintained and operated properly.
The general standard
“According to the European Commission, there are over five billion square metres of commercial buildings in the EU that are using too much energy while not reaching an optimal indoor climate due to the complexity of their systems. R8tech has demonstrated a noticeable positive effect once integrated,” says Siim Täkker, CEO of R8tech.
Kristjan Mitt, the lead investor and the co-owner of the Mitt&Perlebach construction and real estate development group, says that there is an enormous potential for the construction and related industries to benefit from proptech solutions.
“R8tech’s unique solution is beneficial for construction, real estate owners, facility managers and building users. I would not be surprised if the R8tech solution became a general standard in the market,” he says.
R8tech’s innovative solution was recognised in 2019 when the company won the Ramboll Bright Ideas Challenge and in 2020 when it was awarded as the Best Building Energy Efficiency Solution by Wealth&Finance International.
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