Detroit-based startup KODE Labs secures $30m Series B funding to propel global net-zero building emissions

KODE Labs, a pioneering Detroit-based autonomous smart building startup, announced the closure of a robust $30 million Series B round. Spearheaded by Maverix Private Equity, this milestone round also saw enthusiastic participation from esteemed partners TELUS Ventures and existing investor I Squared Capital. The infusion of strategic capital marks a pivotal moment for KODE, empowering the company to help buildings worldwide achieve net-zero emissions.

Founded by brothers Edi and Etrit Demaj, along with Gentrit Gojani in October 2017, KODE's mission is to enhance the intelligence, health and efficiency of buildings, ultimately enriching the experiences of those who inhabit, work in, visit and enjoy them.

Etrit stated that buildings account for a staggering 39% of global carbon emissions, making the transformation of building operations critical for the environment. "Maverix's leadership precisely aligned with our vision. With the follow on from TELUS Ventures and continued support of I Squared Capital, we are in the best possible position to propel our mission forward and combat climate change by making all buildings more energy efficient while creating amazing experiences," he said.

KODE Labs has redefined the landscape of smart buildings with its groundbreaking approach. At the core of this revolution lies KODE's enterprise platform, a sophisticated solution that seamlessly integrates data from a multitude of building management systems, IoT devices and operational systems into a unified, cloud-based infrastructure. KODE's unparalleled capacity to standardize and organize data at scale across diverse systems and numerous buildings worldwide positions the company as a trailblazer in AI technology tailored for buildings.

Edi emphasized that KODE's technology consistently achieves operational excellence, yielding significant outcomes like reducing energy consumption and carbon emissions by up to 30%. With a proven track record, KODE's platform is relied upon by Fortune 500 corporations, retailers, financial institutions and global REITs, catering to a wide array of sectors including commercial, mixed-use, high-rise residential, life sciences and industrial domains.

"Users prioritize a seamless experience over managing multiple screens and platforms. Our platform serves as the definitive operating system, offering complete command and orchestration capabilities. Leveraging machine learning and artificial intelligence across billions of standardized data points, we enhance user experiences while delivering measurable return on investment in under 12 months," he said.

Over the past three years, KODE's annual recurring revenue has more than doubled, showing growth of over 200% each year. With this substantial investment, KODE Labs will also enhance its AI development to innovate building operations and experiences. By analyzing vast amounts of data from various systems, KODE aims to create buildings that prioritize human experience and environmental impact, envisioning a future where efficiency meets human-centric design. 

Peter Hass, Partner, Maverix Private Equity: "KODE is the leading company helping real estate portfolios become more sustainable, improve user experience and become truly smart. They have an exceptional management team, and we couldn't be more excited to partner with them on their next stage of growth."

Since its inception in 2017, KODE Labs has been at the forefront of transforming the smart building landscape across North America, Europe and Australia. With partnerships established with renowned companies such as QuadReal, Bedrock Detroit, Stream Realty, Hines, Ford and other global corporations and REITs across different verticals, this investment will continue to accelerate KODE's expansion and market share.

The Series B funding serves as a testament to the company's steadfast dedication to forging a sustainable future, one smart portfolio at a time.

www.kodelabs.com