Accel will be investing to the tune of $ 1.5 million in Facilio, a Green-tech startup. Accel, formerly known as Accel Partners, is an American venture capital firm. Accel works with startups in seed, early and growth-stage investments.
Facilio is a unified suite of facility management software that harnesses IoT and machine learning to help manage buildings operations, maintenance, and sustainability, together as one.
Founded in March 2017 by Prabhu Ramachandran, Rajavel Subramanian and Yogendra Babu, Facilio’s products are basically meant for companies that own and operate multiple buildings where 20-25% of construction cost goes towards facilities ranging from fire-fighting equipment to heating, ventilation and air-conditioning (HVAC). By empowering people, machines and buildings to achieve high levels of efficiency, Facilio helps the built environment thrive towards continuous sustainability.
Hardware focussed startups have limitations because they are capital intensive and take time to scale. On the other hand, Facilio’s software can deliver value to the customer quickly and works with the existing hardware.While individual players offer IoT-based solutions for various aspects like energy management or HVAC, Facilio is looking to create an integrated platform that gives the building owner a birds eye view of systems across buildings.