SensorFlow raises $2.7m, gets follow-on investment from Cocoon Capital

Photo: SensorFlow team

SensorFlow, a Singapore-based smart energy management startup, has raised a $2.7-million Series A financing round led by private investor, Pierre Lorinet, along with contributions from existing investor, Singapore-based Cocoon Capital, according to an announcement.

Other investors who joined the round include London-based venture fund Playfair Capital, Singapore’s Aurum Land, Insitu Asia Holdings, Europe-based Entrepreneur First and 2be.lu Investments.

SensorFlow is a technology startup that monitors, analyses and automates energy consumption in buildings using smart wireless Internet of Things (IoT) and Artificial Intelligence (AI).

It raised its seed funding round last year, led by Cocoon Capital, and followed by SG Innovate and SparkLabs under the Entrepreneur First accelerator programme.

The funds raised will enable SensorFlow to cater to growing demand from major hotel chains in Singapore, Indonesia and Hong Kong.

The company intends to enter markers like Sri Lanka, India, United Arab Emirates and Saudi Arabia within the next two years. It targets to provide services to 800,000 smart hotel rooms by 2022.

SensorFlow’s solutions include real-time data insights on energy consumption, occupancy trends and guest behaviors. The company tackles the challenges hoteliers face on setting up an energy management system, which invariably carry high upfront cost and have integration issues.

SensorFlow claims up to 30 per cent in total energy savings and up to 40 per cent in savings on maintenance costs.

“With energy consumption accounting for more than 60 percent of utility costs, hoteliers constantly seek to improve their energy efficiency. However, they often grapple with the challenge of incurring high costs and disruptions when implementing new energy solutions,” said Saikrishnan Ranganathan, co-founder and CEO of SensorFlow.

The company states that its service takes less than 10 minutes for installation without having any operational disruptions and upfront costs.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.