enModus, a smart building technology company from Wales, has secured £3m in Series A funding from three main investors including one of the UK’s largest shopping centre owners.
Founded in 2010, enModus specialises in Smart Light Control (SLC) and smart Building Energy Management (BEM).
Its core technology is ‘Wattwave’, a low-cost powerline communications protocol for appliances and buildings which reportedly offers peerless range and robustness.
The major investment comes via: intu – one of the UK’s largest shopping centre owners, Breed Reply – an investor for early-stage companies delivering IoT solutions, and Finance Wales – a major British SME investment company.
Already boasting global customers the likes of Volvo, the 16-strong business aims to double its workforce within the next 18 months.
The £3m series A funding brings total investments to date to £9m, and represents another big step in accelerating the company’s growth across Europe, North America, Asia-Pacific and beyond.
Founder and CEO of enModus, Andy Heaton explained: “This is an exciting moment for enModus. Having intu, such a key player in commercial real estate, joining our key investors and supporting enModus, is a validation that our technology is the best fit for safer & smarter buildings and that we provide our customers with a platform that helps them manage their energy efficiency priorities in the most effective way.”
He went on to describe this new round of funding as a “real game-changer” that will enable the firm to rapidly grow its customer base.
Heaton added: “The Internet of Things is driving new possibilities for control of a wide range of devices from LED lighting to building control and other connected systems. It’s a huge market and we’re now well-placed to take advantage of that.”
Dr Richard Thompson, senior investment executive of Finance Wales Group, added: “We’ve supported enModus through the development and industrial validation of their unique and exciting technology. We are now delighted to co-invest with intu and Breed Reply to accelerate the international commercialisation of their technology. This strategic investment from intu should grab the attention of other key players in the lighting and energy management sectors.”