Redaptive, an Efficiency-as-a-Service tool for commercial and industrial customers, secured $150 million in private placement funding after raising $6.5 million earlier this year.
The company enables energy efficiency retrofit programs, such as materials, installation and maintenance, without upfront capital, through the use of directly measured building data. This allows companies to reduce their costs while continuing to scale their operations, Vohra said.
Redaptive intends to use the new cash infusion to expand its offerings, hire more talent and invest in new projects.
[Engie New Ventures:] “It was really clear that Redaptive was the pioneer because of the strength of the team… The market is well served by Redaptive, especially by those Fortune 1000 companies that were not going after energy efficiency as fast as they could.”