MODE, a tech startup with offices in San Francisco and Tokyo that develops AI solutions for buildings, announced this week that it secured an additional $5.3 million in new funding.
The company’s latest investment comes from Canon Marketing Japan, KDDI Open Innovation Fund III, KIRIN-GB Fund I, and Safie Ventures.
The company is quickly becoming one of the most watched startups in the space.
Said Tomoaki Terakubo, Senior General Manager at Canon Marketing Japan, “In light of a shrinking working-age population and rising labor shortages, operational efficiency has never been more important.”
“By combining our expertise in video data and digital documentation with IoT sensor-based insights, we aim to significantly boost the accuracy of generative AI and dramatically accelerate on-site digital transformation (DX), delivering next-generation productivity and innovation for our customers.”
As one of the key investors, Canon Marketing Japan sees significant potential in MODE Inc.’s technology.
The funding follows MODE Inc.’s successful round eight months ago, and brings the company’s total funding to $14 million.
The new resources will be used to accelerate the development of the company’s AI Energy Assistant, which is a solution designed to help building managers reduce operational costs and improve energy efficiency.
The global building management market is experiencing rapid growth, driven by the increasing demand for sustainable and cost-effective solutions in commercial real estate, and is projected to reach $176.9 billion by 2030.
Building owners and developers are under pressure to meet sustainability goals, comply with regulations, and ensure occupant comfort. However, the industry faces significant challenges, including fragmented systems and an overwhelming amount of data generated by buildings, which often leads to missed opportunities for energy optimization and improvements.
“We are committed to providing AI-driven solutions that simplify data management in the physical world,” said Gaku Ueda, CEO of MODE.
Added the executive, “This additional funding allows us to accelerate the development of our AI Energy Assistant, making it easier for building managers to access crucial data and make informed decisions instantly to meet modern expectations and cut energy consumption by up to 20%.”
MODE’s AI Energy Assistant is well positioned to address these challenges through its integration of data from building systems, and by providing actionable insights and enabling real-time decision-making.
With its new funding, MODE is well-positioned to further its growth and to help building managers across the globe reach their operational and sustainability goals.