720 degrees raised $3.3M in capital investment
720 Degrees, a Helsinki, Finland-based developer of indoor air quality analytics solutions announced securing an additional £2.5 million ($3.3M) in capital funding.
The money was provided by new and existing investors, including London-based property venture company Pi Labs, T&J Ventures, Business Finland and a range of undisclosed US-based angel investors. The company will use the money to expand in Europe and develop its client base in the nascent US market. It has opened an office in New York City.
720 Degrees, founded in 2012 by Tomas Novotny and Rick Aller, developed a software solution that applies machine learning to indoor environmental quality analytics. The system interprets billions of indoor air data points from hundreds of facilities each month, comparing this to outdoor quality and direct feedback collected from the occupants of each facility.
The solution provides occupants, tenants, property owners and property maintenance professionals with real-time data to support immediate decision-making, operations monitoring and reporting. Along with real-time information, the platform provides automated suggestions on how to improve employee productivity via constant monitoring of the building’s internal environment.
Prior to this transaction, 720 Degrees raised $1.5M in equity and also received grants from the EU’s Horizon 2020 programme and Business Finland having been selected onto its Young Innovative Companies programme.