KODE Labs secures $30M series B funding to propel global net-zero building emissions

Detroit, Michigan – April 15, 2024 – KODE Labs, a pioneering Detroit-based autonomous smart building startup, proudly 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 Demaj, co-founder of KODE Labs, 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,” said Demaj.

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. 

Co-Founder Edi Demaj 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,” explained KODE Labs co-founder Edi Demaj. “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.”

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

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.

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. 

KODE Labs has solidified its position as a trusted leader in the industry. As KODE Labs embarks on its next phase of growth and innovation, 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.

Check out the original story at TechCrunch and Globe and Mail.

About KODE Labs

Founded in October 2017 by Edi Demaj, Etrit Demaj, and Gentrit Gojani, KODE Labs specializes in transforming real estate management and experience through its innovative, data-centric operating system, KODE OS. This smart building platform leverages a software-as-a-service (SaaS) model to optimize building performance, integrating data from building management systems, IoT, and operational systems into a unified, cloud-based solution. KODE’s platform has proven to reduce energy usage and carbon emissions by up to 30%, while streamlining costs associated with multiple tracking and reporting platforms. At KODE Labs, the future of efficient and sustainable real estate management is being redefined. For more information, visit kodelabs.com 

About Maverix Private Equity

Maverix Private Equity is a dynamic investment firm that leverages deep industry expertise and a hands-on approach to drive growth in middle-market companies. With a focus on North American businesses, Maverix aims to empower entrepreneurial teams by providing capital, strategic guidance, and operational support. The firm’s investment strategy is rooted in identifying companies with strong potential and working collaboratively with management teams to accelerate growth and enhance value. Maverix Private Equity is committed to building long-term partnerships and delivering sustainable results, making it a trusted ally for businesses looking to scale and succeed in today’s competitive landscape. For more information, visit maverixpe.com

About I Squared Capital

I Squared is a leading independent global infrastructure investor with over $38 billion in assets under management. We are known for the development of investment platforms in infrastructure projects where we start small and grow big. We use global insights and deep local intelligence to solve complex problems, foster smarter businesses, serve local communities, and invest in a more sustainable future to provide essential services to millions of people around the world. We operate a diverse portfolio of 82 companies with over 66,000 employees in a variety of sectors including utilities, energy, digital infrastructure, transport, environmental infrastructure, and social infrastructure. We have invested in 71 countries across North America, Europe, Asia, and Latin America. Headquartered in Miami, we are a team of over 260 people spread across London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. For more information, visit isquaredcapital.com