15 Start Ups to watch in 2017! - Memoori · 15 StartUps to Watch! 2017 The 15 profiles in this report have been selected, according to Memoori's view of "Companies to Watch in 2017".

15 Start Ups to watch in 2017!Published: Q1 2017

Smart Buildings

15StartUpstoWatch!

2017The15profilesinthisreporthavebeenselected,accordingtoMemoori'sviewof"CompaniestoWatchin2017".Theyarebasedoninterviewswithseniormanagementandsecondaryresearch.

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Contents

75F..................................................................................................................................................2

AssetMapping................................................................................................................................4

Camio..............................................................................................................................................6

Ecorithm.........................................................................................................................................7

Enlighted.........................................................................................................................................9

FoghornSystems..........................................................................................................................11

GrowingEnergyLabsInc(GELI)....................................................................................................12

Levaux...........................................................................................................................................14

OrigamiEnergy.............................................................................................................................16

PointGrab.....................................................................................................................................18

PrismSkylabs................................................................................................................................20

Riptide..........................................................................................................................................22

Stem.............................................................................................................................................24

SwitchAutomation.......................................................................................................................26

VerdigrisTechnologies.................................................................................................................28

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75F

Founded:75FwasestablishedinNovember2012

Locations:Burnsville,Minnesota,USA(HQ)andBangalore,India(R&D)

Founders:DeepinderSinghandPankajChawla

Management:DeepinderSingh,CEO;PankajChawla,CTO

NumberofEmployees:45

FundingStage:Earlystageseedfunding

TotalFunding:Bootstrappedforthefirsttwoyears,theventurefirstraisedfundingin2015andhassofarraised$4millionacrossthreerounds.Investors:AOLco-founder,SteveCaseandGopherAngels,anetworkofangelinvestorsbasedintheTwinCities.

CategoryofBusiness:ConnectedHVAC

EstimatedSales(2016):75Fareexpectingtoclose2016withapproximately$2millionrevenues,amajorityofthisoriginatingfromtheUS.Offering:TheirDynamicAirflowBalancingsystemclaimstobeaninnovativeapproachtoHVACzonecontrols.LeveragingIoTdesignphilosophyandthepowerofcloudcomputing,the75Fsolutionachieveswhatwasoncethoughttobeonlytheoreticallypossible–continuouscommissioningorperfectairbalancing.

WirelessZoneControllerssenseandcollecthundredsofdatapointsfromeachroomeveryminuteandsendthedatatotheCentralControlUnitandfromtheretotheserversinthecloud.Eachnight,cloudcomputingalgorithmsanalyzethousandsofdatapoints,includingtheweatherforecastanddailyusagepatternsthatallowthesystemtopredictfutureconditions.Subsequently,anewsetofinstructionsaresenttotheCentralControlUnitandthemotorizeddampersaremodulatedafewdegreesatatimetoachievetheperfectbalanceeveryminuteoftheday.Thesystemalsofactorsinreal-timeevents,suchasroomoccupancy,thepositionofthesunandweatherpatternstomakecontinuousadjustmentstotheplanasneeded.

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Differentiation:Theinstalledcostoftheirequipmentisapprox20-25%ofthecostandlessthan25%ofthetimeforatraditionalsystem.

MostImportantAchievementtodate:75F'ssolutionoffersproactivepredictivecontrol/machinelearning,capturingdataevery60seconds.

Customers:Havinginstalledover1,000controlzones,75F’sclienteleincludesTacoBell/BorderFoods,YogaFit,Magnet360andLongHornSteakhouses.

TargetMarkets:75FDynamicAirflowBalancingisdesignedforlightcommercial/industrialbuildingswithforcedairConstantVolumerooftoppackageunits.Aimedatbuildingsunder50,000sq.feet-focusingonrestaurant,officeandretailfacilitieswithnozonecontrols,whichthecompanyestimatesaccountsfor5millionbuildings.Smallerbusinessesarethefocusof75F’sefforts,amarketinwhichSinghbelievesisavoid.“Thatvoidrepresentsa$40billionopportunityfortherightproduct"hestatedin2014.

Thelowretrofitcostof$1.35to$3.50persquarefootasaretrofitsolutionisreadilyadoptedbyfacilitiesexperiencingthediscomfortoflargetemperaturevariations.

Innewconstruction,75FDynamicAirflowBalancingcanbespecifiedintheplaceofVVTzoningsystems,withlowerinstallationcosts.

“Weseeabout20millionpotentialsystems,withaboutfoursystemsinstalledineachbuilding.Eachsystemisabout$5,000installed.Itcostsanaverageof$1.50to$3persquarefoot.

Theexpectedreturnoninvestmentforthe75Fsystemisonetothreeyears,accordingtoSingh.Itvarieswidelybasedonthenumberofroomsinsideabuilding,aswellastheavailabilityofrebatesforenergysavings.

GeographicmarketsareUSAandIndia.

GrowthStrategies

• LaunchofbusinessoperationsinIndiainAugust2016,withatargetofRs100crorerevenuesbyFY2018-19

• ExpansionofofferingtoClassAbuildings(over100,00squarefeet)• Additionoflightingcontrolandautomatedenergyanalysistotheirportfolio

Addressingnichemarketswherethecompanycandifferentiateitsoffering

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Asset Mapping

Established:AssetMappingwasformedin2012

Locations:London,UK

Founders:BillClee,whoworkedastheassetmanagerduringtheconstructionoftheLondonOlympicPark,priortocreatingthecompany.

Management:BillClee,CEO;MichaelGrant,COO;AndyMulholland,Chairman.

NumberofEmployees:18withanadditional5planned.

FundingStage:GrantsfromInnovateUK,whohavebeenpivotaltothecompany'ssuccess-eg.£95,000receivedinMay2013.TheyhavewonfourprojectswithInnovateUK,includingbecomingleadersoftheSmartCityverticalforHypercat.

TotalFunding:notdisclosed.Currentlyclosingfurtherinvestmenttotakethecompanytomarket.

Investors:notdisclosed.

ParticipationinAccelerators/Incubators

• Level39Accelerator,CanaryWharfGroupplc’stechnologyacceleratorspaceatOne

CanadaSquare,in2014

• IDEALondonpost-acceleratorprogramin2015.IDEALondonwascreatedasa

partnershipfacilitycreatedasapartnershipbetweenCiscoSystems,DCThomsonand

UniversityCollegeLondon(UCL).

CategoryofBusiness:Proptech&InternetofThings

EstimatedSales(2016):Approx.£1millionannualrevenues.Offering:AssetMappingprovidesbuildingowners,facilitiesmanagersandoperatorsasinglepaneofglassviewoftheirbuildings.Theplatformgathersdataaboutsystemsfromseparateenergymanagementsystems,BMSsystems,softwarepackages,spreadsheets,drawingsandfiles,pullingthemintoasinglewebapplication.Fromthiswebapplication,anyonecanvisualize

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thelocationandhealthofcriticalequipmentinbuildingsandinfrastructure,bothduringtheconstructionprocessandthroughoutthelifeoftheassets.Arulesengineaddsbusinessintelligencetotheoperationsandmanagementofassetsbysendingalertstooperatorswithalltheinformationtheyneedtofixissuesfaster.Thisresultsinsignificantoperationalcostsavings,reducedconstructionprojectlifecyclesandreducedenergyconsumptioninbuildings.

Differentiation:Holisticviewofbuildingassetswithnodirectcompetitionatpresent.

Partnerships:ThecompanyhasrelationshipswithleadingtechnologyprovidersCiscoandIntel.AsaCiscoSolutionPartner,AssetMappingoffersacomplementaryproductofferingandhasstartedtocollaboratewithCiscotomeettheneedsofjointcustomers.

AssetMappingandCiscoworktogetheronCityVervein2016inManchester,connectingbuildingswithCisco'sIoTgateways.This£10mSmartCitiesproject,sponsoredbyInnovateUK,demonstratesthefeasibilityofsmartcitiesreducingtheiroperatingcosts,andaddingvaluetotheirinhabitantsusingIoT,scalabletechnologiesacrossfourkeyareasincludingenergy,environmentandtransport.

AssetMapping,CiscoandJohnsonControlsarealsopartofProjectaSSURE.TheaSSUREproject,whichstandsforSecureSensorUseinReal-WorldEnvironments,involvesestablishingalifecyclemanagementprocessforIoTdatasecuritybecausetheyrecognizethatnosinglesecurityapproachwillproperlyaddressallusecasesandIoTenddevices.TheaSSUREprojectwantstoestablishaframeworktodevelopdifferentapproachesbasedontheclassesofdevicesbeingconnected(Jan2016).

Customers: Notdisclosedcustomers.Theyrangefrompublicsectortoproductmanufacturersandfinancialinstitutions.

MostImportantAchievementtodate:ManchesterSmartCitiesProjectandsigninganongoingcommercialagreementwithaglobalequipmentmanufacturer.

TargetMarkets:Thecompanyaretargetinglargecommercialbuildings,suchasoffices,warehousesandfactoriesandownerswithbuildingportfolios,intheUKandUS.

GrowthStrategies:

• Obtainseedfundingasproofofconcept

• AddressUSmarketaswellasUKmarket

• Focusoncommercialrealestateandlargeproperties

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Camio

Established:Foundedin2011

Locations:SanMateo,California,USA

Founders:CarterMaslan,formerDirectorofProductManagementatGoogle

Management:CarterMaslan,CEO

NumberofEmployees:intherangeof11-50


TotalFunding:Totalseedfundingof$2.20millioninFebruary2014

Investors:20investorsintotalincludingFreestyleCapital,GreylockCapital,FloodgateFund,BoxGroup,MarissaMayer,BrianMcClendon,andJohnHenke.

CategoryofBusiness:Security

EstimatedSales(2016):notdisclosed

Offering:Cloud-connectedvideomonitoringservice,whichcombineslocal/edgeandcloudmachinelearningtomakevideoeasilysearchable.Camioadaptstoeachcameratolearnwhat'simportantandunimportanttooptimizeusageofbandwidthandstoragewhileenablingfastbrowsing.

Customers: Manufacturersof NVRfirmwareandcommercialbuildingsystemintegrators

MostImportantAchievementtodate:Smartvideomonitoring

TargetMarkets:Smallandmidsizecompaniesareagrowingsegmentoftheirbusiness

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Ecorithm

Founded:Ecorithmwasestablishedin2011

Locations:SantaBarbara,CaliforniaandNewYork

Founders:StephanieMarasciullo,UniversityofCaliforniaSantaBarbara(UCSB)ProfessorDr.IgorMezić,andDr.ChrisTagge

Management:DrChrisTagge,CEO;DrIgorMezic,ChiefScientificandTechnicalAdviser

NumberofEmployees:16employees(Feb2016)


TotalFunding:$20.2million

Investors:Recentinvestorsarepredominatelycustomersandchannelpartners.InvestorsincludeDanielTishmanoftheNewYorkTishmanfamily,alsotheCompany'sChairmanandGenNextVentures,aventurecapitalfundbackedbyRelianceIndustriesLtdIndia.

CategoryofBusiness:EnterpriseEnergyManagement

EstimatedSales(2016):Notdisclosed

TargetMarkets:largeClassAcommercialofficeswithbuildingautomationsystems(≈3billionsquarefeetintheU.S.)expandingtomorethan60billionsquarefeetintheU.S.ofcommercialandgovernmentoffices,datacenters,retail,healthcare,educationandindustrialfacilities.

Offering:Ecorithmoffers"TrueAnalytics",anadvancedanalyticalsoftwareplatformtooptimizecomfortandenergyefficiencyforcommercialbuildingsworldwide.Thecompanyprovides“physics-basedalgorithms,combinedwithbigdatatechnology”toidentifyenergywasteincommercialbuildings.

Differentiation:Differentiatedbyitshighlyaccurateautomatedfaultdetectionandpredictiveanalysis.Ecorithmclaimstooffertheonlysoftwareavailabletodaycapableofholisticenergyoptimizationforthe“systemofsystems”thatconstituteawholebuilding.Theirsoftwareworkswithexistingbuildingautomationsystemstodramaticallyincreasethegranularityofenergyanalyticsbyanalyzingthemassiveandunstructureddataflowsfromallofthebuildingenergysystems–temperatures,airflows,setpoints,etc.Bymappingtheseenergyinputstothethermalphysicsandconfigurationofthebuilding,Ecorithm’sproprietaryspectralandspatial

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algorithmsallowEcorithmtoshowownershowthevarioussystemsintheirbuildingsareoperatingonastand-alonebasisaswellasinteractingwitheachothertorapidlyidentifyinefficientenergyusefarmoreeffectivelythancurrentlyavailablesolutions.

Theydeliverdetailedindividualfloorvisualizationswithactionableintelligenceatthelevelofindividualdevicestooptimizeenergyperformanceandcomfort.

BusinessModel:Theirbusinessmodelissoftware-as-a-serviceandtheirprimarydistributionisthroughselectedchannelpartners-controlscontractors,ESCO(energyservicecompanies)andenergyconsultants.

CoreTechnology:Ecorithm’sunderlyingpatent-pendingtechnologywasdevelopedoveratenyearperiodinassociationwithUSDOD/DARPAbyco-founderIgorMezic,PhD,ProfessorofMechanicalEngineeringandMathematicsatUniversityofCalifornia,SantaBarbara.Ecorithmholdsexclusive,globalrightstotheintellectualpropertyfromtheuniversity,covering:

• Spectralanalysistorapidlyanalyzeextremelylargedatasetsbyremovingtheinherentnoiseoftypicalbuildingoperations.

• Rapididentificationofperformancefaultsbasedonawholesystemsanalysis,includinginteractionsbetweeninternalandexternalspacesandequipment.

• Clearvisualizationofhistoricalandreal-timeoperationalperformance.

Customers:UCSB’sEducation&SocialSciencesBuilding(ESSB)iscurrentlytheonlybuildinginSantaBarbarausingEcorithm’stechnology,butthecompanycontinuesservicing5.5millionsquarefeetofcommercialbuildingspace,primarilyinitsNewYorkmarket.MarascuillosaidSantaBarbara-basedCitrixSystems,Inc.isaprogressive“earlyadopter”ofthetechnology,usingEcorithmforitsbuildingsinNorthCarolina.

FuturePlans:Asthecompanygrows,MarascuilloandMezićhopetoexpandtheirsalesteamwithSeriesAfunding—venturecapitalinvestments—tobecomemoreproactivewiththeircustomers.

http://memoori.com

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Enlighted

Established:Enlightedwasfoundedin2009

Locations:HeadquartersinSunnyvale,California,USA

Founder:TanujMohan

Management:Chairman&CEO:JoeCostello;TanujMohan,ChiefTechnologyOfficer;MikeMartini,ChiefFinancialOfficer

NumberofEmployees:intherangeof51-200employees

FundingStage:SeriesD/Feb2016


Investors:ThecompanyhasreceivedventurefundingfromDraperNexusVentures,KleinerPerkinsCaufield&Byers,RockPortCapitalPartners,DraperFisherJurvetson,IntelCapital,ElectranovaCapitalandTaoCapitalPartners

CategoryofBusiness:BuildingInternetofThings

EstimatedSales(2016):intherangeof$50-$100million

Offering:Enlightedoffersa"built-in"IoTsolutionforbuildings,whichdifferentiatesthecompanyfromotherbolt-onsolutions,intermsofgranularityandsensordensity.Thecompanyofferingincludesconnectedlighting,smartHVACandspaceoptimizationappsforcommercialrealestateandenterpriseapplications.

“Thisisnolongeraboutjustprovidinglightingcontrols,”saidCostello.“InstallingtheEnlightedIoTplatformislikegivingyourbuildingabrain.Wecanprovidesoftwaresolutionsforenergysavings,assettracking,realtimeinformationaboutbuildingutilization,andsecurityforbuildingsandpeople,tonameafew.Thegamereallyhaschanged.”

Competitors:OneofEnlighted'sstrongestcompetitorsisconsideredtobeAcuityBrands.

Customers: Enlighted’sIoTsystemisinstalledinmorethan100millionsquare-feetnationwideinFortune500companiesincludingGoogle,AT&TandHP.Theyhavedeployedover1millionsensors.

Partnerships:Thecompanyannouncedafive-year,globalintegratedtechnologyandservicespartnershipwithJLLinApril2016.ThisagreementformalizesandstrengthensJLL’songoing

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collaborationwithEnlighted,inwhichJLLdeliverssmartbuildingapplicationsthroughaplatformofintegratedservicesandtechnologies.Undertheexpandedpartnership,thisplatformwillcombineEnlighted’sadvancedsensortechnologyandWebapplicationswithJLL’sprojectmanagement,workplacestrategy,andenergyandsustainabilityservicesaspartofJLL’scomprehensiveSmartBuildingprogram.

TargetMarkets:Verticalmarketpenetrationestablishedincommunications,banking,healthcare,andnextgenerationserviceproviders.

BusinessDevelopment:ThecompanyiscurrentlyexpandinginternationaldistributiontoFrance,GermanyandtheUnitedKingdom.

http://memoori.com

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Foghorn Systems

Founded:FoghornSystemswasestablishedin2014

Locations:MountainView,California,USA

Founders:T.M.Ravi,alsoManagingDirectorandCo-founderofTheHive,andMohanReddy

Management:DavidC.King,CEO


FundingStage:SeriesA,July2016


Investors:SeriesAfundingledbyMarchCapitalandGEVentures.AdditionalfundingwasprovidedbyRobertBoschVentureCapitalGmbH,YokogawaElectricCorporationandDarlingVentures.

ParticipationinAccelerators/Incubators:TheHive,seedfundandstartupacceleratorinPaloAlto,CA


EstimatedSales(2016):undisclosed

Offering:FogHornisaleadingdeveloperof“edgeintelligence”softwareforindustrialandcommercialIoTapplications.,includingsmartbuildingsandsmartcities.

FogHorn’ssoftwareplatformbringsthepowerofmachinelearningandadvancedanalyticstotheon-premiseedgeenvironmentenablinganewclassofapplicationsforadvancedmonitoringanddiagnostics,assetperformanceoptimization,operationalintelligenceandpredictivemaintenanceusecases.

Partnerships:CollaboratingwithMicrosoftCorp.tomakeitssoftwareavailabletodevelopersandendusersviaMicrosoftAzure(April2016).

PromotedtoAssociatePartnerinDellInternetofThingsSolutionsPartnerProgram(June2016).

http://memoori.com

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Growing Energy Labs Inc (GELI)

Established:GrowingEnergyLabsInc(GELI)wasfoundedinearly2010

Locations:SanFrancisco,California,USA(HQ);NewofficeinMelbourne,Australia

Founders:FoundedbyDr.RyanWartenaandCrispellWagner

Management:DanLoflin,CEO;RyanWartena,President;CrispellWagner,CTO


FundingStage:$500kSeriesSeedFinancingJune2013,$10millionSeriesAFundingRoundcompletedDecember2016

TotalFunding:around$11million

Investors:

• SeriesA;ShellTechnologyVentures• SeriesA;SouthernCrossRenewableEnergyVentureCapitalFund(REVC)• SeriesA;SiemensVentures• SeriesA;unnamedcleanenergyfamilyinvestmentoffice• Seed;InvestedDevelopmentandsevenangelinvestors

ParticipationinAccelerators/Incubators:ThecompanyhasbeenacceptedtoparticipateintheWellsFargoInnovationIncubatorin2017.ThecompanyiscurrentlyparticipatingintheEnergyExceleratorinHawaii.

CategoryofBusiness:EnergyStorageSoftware

EstimatedSales(2016):notdisclosed

Offering:GeliisbuildingthesoftwareinfrastructurethatwillenabletheemergingInternetofEnergy,anintelligentnetworkofdistributedassets.

Theyoffertoolstodesign,connect,andoperateenergystorageandmicrogridsystems,whichreducedemandthroughpredictiveforecasting

• DesignishandledbyGeli’sESysttool.Thisallowsthedevelopertoright-sizeand

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integratetheappropriatecomponents.Italsoyieldsperformanceprojectionswhichhelpdeveloperssecurefinancing.

• SystemautomationiscoveredbyGeli’sEOS,whichfacilitatestheintegratedandautomatedoperationofdisparateelementsofthemicrogridecosystem.Italsoensureoptimizationofthevariousparts.

• OngoingmonitoringisperformedbyGENI,whichdeliversreportsandconstantlyanalyzesthesystemforanomalies.

Differentiation:

• Geli'sbusinessmodelisB2B,operatingasanenablerforlargesolardevelopers,engineeringfirmsandconstructionpartners.Theylicensetheirsoftwaresolutions.

• Theiranalyticsplatformistheirkeydifferentiator,withitsabilitytoeasilyintegratenewhardwareandenergyapplications.

Competitors:Stem,GreenChargeNetworks,GreensmithEnergy

Partnerships:Over500partnersusetheEsystplatform.

Customers: largesolardevelopers,energystoragesystemintegrators,EPC’sandfinanceinstitutions.

MostImportantAchievementtodate:ParticipationinstrongsolarmarketssuchasAustraliaandHawaiiwhichhavegridcompensation(orfeedintariff)policiesthatfavourtheuseofGeli’splatform.

TargetMarkets:75%ofthebusinessistargetedatthecommercialandindustrialsector;25%targetedattheresidentialsector

GrowthStrategies:ExpansionofoperationsintheAsia-Pacificregion

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Levaux

Founded:LevauxwasfoundedinJune2013inAustralia,althoughtheideaforthecompanywasbornontheshoresofLakeGenevain1998.

Locations:GoldCoast,Queensland,Australia

Founders:Dr.SimonBenson

Management:Dr.SimonBenson,CEO


FundingStage:Pre-SeriesA

TotalFunding:Self-fundedtodate

ParticipationinAccelerators/Incubators:CityofGoldCoastBusinessAcceleratorProgram2014


EstimatedSales(2016):Pre-revenue

Offering:LevauxIoTconnectsembeddedsmartobjectstothecloudusingproprietaryhighspeedmiddlewareandcustomwirelessmeshstack.ThecompanyoffersSenseAgent,anenterprise,cloudbased,buildingassetmanagementsystemusingwirelessautonomoussensoragentsembeddedinandinteractingwithincommercialspacestoprovideawealthofdatausedforlightingcontrol,safetycompliance,climatecontrolandsecuritytrackingtooptimisebuildinguse,reduceenergyconsumptionandoperationalexpensesacrossgeographicallydistributedassets.

Partnerships:ThecompanyisaimingtopartnerwithFacilitiesManagementcompaniesasaroutetomarket

MostImportantAchievementtodate:DevelopmentofproprietarymiddlewarecommunicationsplatformtodeliverunparalleledspeedandsecurityforcriticalinfrastructureandhighvalueassetsforenterpriseInternetofThingsapplications.

TargetMarkets:HighdensitycommercialofficebuildingsinAsia

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GrowthStrategies:

• SeriesAfundingroundplannedforearlyin2017• AddressingtheAsianmarket,whichhas47%highrisebuildings

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Origami Energy

Founded:OrigamiEnergywasfoundedin2013

Locations:Cambridge,UK(technologyteam)andLondon,UK(commercialteam)

Founders:PeterBance,whowaspreviouslyanEntrepreneurinResidenceatOctopusVentures.

Management:PeterBance,CEO,OliverBurstall,CTOandAmandaKing,CFO.

NumberofEmployees:30+

FundingStage:SeriesAfunding,April2016

TotalFunding:OrigamiEnergysecuredinitialfundingof£4minsummerof2014todeveloptheconceptandfundfieldtrials.ThesestartedinSeptember2015andtheyhavesuccessfullydemonstratedtheycanusetheirtechnologysolutiontosafelycontrolassetsanddelivervaluablecommercialservices.Theirvisionfortheenergymarketwasfurtherendorsedin2016whenthecompanysecuredaSeriesAfundingof£13.7mtodevelopthebusinessmodel.Totalfunding:$25.4million

Investors:CambridgeInnovationCapital,OctopusVentures,twoprivateindividuals,andinvestmentfromFred.Olsenrelatedcompanies.

CategoryofBusiness:DistributedEnergyResourceManagementSystems


Offering:OrigamiEnergyisdevelopingthetechnologyandmarketplacethatarerequiredtoconnect,controlandactivelymanagealargenetworkofexistingenergygenerating,energyusingandenergystoringassetsconnectedtotheelectricitygrid.

TechnologyandDifferentiation:Nearlyallassetsthatgenerateorconsumeelectricityhavesomeinherentflexibilitytochangehowandwhentheywork.Flexibilityishowmuchyoucanincreaseordecreasethepowerlevelofanassetwithoutaffectingitsfunction.AtOrigami,theycallthisaFlexi-Watt.

Origami’stechnologyallowsFlexi-Wattstobeaccessed,sothattheycanbesoldtocustomerssuchasNationalGridandnetworkoperators.Withthegrowthinintermittentrenewable

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generationandtheprospectofmoreelectricvehiclesandheating,thenumberofcustomerswhoareinterestedinthisflexibilityisincreasing.

Origami‘EnergyRouters’combinehighaccuracymeasurement,securecommunicationandsmartprocessingcapabilitytomonitortheasset’sstateandworkwithinagreedparameterstounlockvaluableFlexi-Wattswithoutaffectingthecoreprocess.Controlcanbethroughasimpleon/offcommandviaarelay,orfullintegrationwithanexistingsophisticatedcontrolsystem.

EnergyRoutersareincontinualcommunicationwiththeiroptimisationplatform,providingreal-timeknowledgeofthestateandflexibilityofallassets.Theoptimisationplatformmatchesassetflexibilitywiththeevolvingrequirementsoftheelectricitysystematalocalandnationallevel.Theplatformplansaheadtoensureassetsareintherightstateaheadoflikelyrequirementsandavoidanyeffectsofcommunicationslag.Thegoaloftheplatformistomaximisethevaluefromtheassets.

AtOrigamitheyfocusontheenergysystemofthefuture,developingasolutionthatallowsmanydifferentassetstoworktogethertodelivervaluetomanydifferentcounterparties.Thisisnotatypicalapproachfortheenergyindustry.

Customers:Thenew£13.7millionoffundingwillallowOrigamiEnergytomovefrompilotfieldtrialstomulti-sitecommercialdeploymentswithawiderangeofcustomers,focusinginitiallyonindustrialandcommercialsites.

GrowthStrategies:Thecompanyistransitioningfromcurrentcustomerfieldtrialstoscalabledeploymentoftheirsolutiononacommercialbasis.

http://memoori.com

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PointGrab

Founded:PointGrabwasestablishedinMay2008

Locations:HodHasharon,Israel

Founders:ThecompanywasfoundedbySaarWilf,HaimPerskiandAmirKaplan.

Management:HaimPerski,CEO; ItamarRoth,ChiefBusinessOfficer


FundingStage:SeriesB,October2016

TotalFunding:$12million

Investors:

• SeriesA,Dec2015:investmenttotaling$5millionfromABBTechnologyVentures,EcoMachinesVenturesandFlexLabIX.SaarWilf,PointGrab'sChairmanandfirstinvestor,alsoparticipatedinthisfundinground.

• SeriesB,Oct2016:InvestorsincludePhilipsLighting,MitsubishiUFJCapitalCo.LtdandexistinginvestorABBTechnologyVentures

ParticipationinAccelerators/Incubators:ParticipantinTyco'sInnovationprogram.



Offering:UsesdeeplearningtoprovideoccupantanalyticsandinsightsaboutenergysavinginIoT-basedbuildingautomationsystems.Theirsolution,CogniPoint,isaminiaturenetwork-connectedcomputervisionsensor,runningembeddedanalyticsonalow-costprocessor.Thisceiling-mounteddevicecomesintwoformfactors:incorporatedintolightingfixturesorinstalledasastand-alonenodeconnectedwithinabuildingnetwork.Thesensorleveragestheadvantagesofthevisionmodalitytocapturefineobjectandoccupantdata,butbecauseallanalyticsareperformedatthesensorlevel,imagesarenevertransmittedfromthesensor,onlytheprocesseddataoractionableinformationisdeliveredastheoutput.Thesensorsadhereto

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allcommunicationstandardsandhavepowerfulsecuritymechanismsbuiltdirectlyintothedesign.

Differentiation:Pointgrab’sedge-analyticsIoTsensorhasbeenidentifiedbyTycoandothersasdisruptivetechnologyforsmartbuildings.Byembeddingdeeplearningtechnologyintoopticalsensingdevices,PointGrab’sCogniPointsensorprovidesindooroccupantanalyticsandenergysavingsincommercialbuildings,enablingunprecedentedprecisioninthedetectionofoccupants’locations,count,andmovements,aswellasprecisereadingsofambientlightingandmotionsensing.CogniPoint,leveragesdeeplearningalgorithms,enablingadetailedrichnessofthedataprovided,withoutevercompromisingtheoccupants’privacy.

Partnerships:ThecompanyiscollaboratingwithbothlargeintegratorsandleadinglightingOEMs,suchasABBLowVoltageProducts,PhilipsLighting,TycoandGooee.InJune2016,PointGrabannouncedthatithadjoinedtheCiscoDigitalCeilingframeworkasapartnerfordevelopingbuildingautomationsolutionsoveroneIPnetwork.AsamemberoftheCiscoDigitalCeilingframework,PointGrabwillcollaboratewithleadingorganizationstodrivetowardsmarter,connected,andmoresecurebuildings.

Customers:Thecompanyhasinstalledsmartsensorsinnumerouscustomersitesaspartofongoingcollaborationprojectswhilethecommercialreleasewillbeavailableinearly2017.

TargetMarkets:Thecompany'sfocusisonofficebuildingsTheyarealsopursuingopportunitiesintheretailspace,togetherwithsolutionproviders,andseehealthcareasaparticularlyinterestingandrapidlydevelopingvertical.

GrowthStrategies:Jointdevelopmentandmarketapproachwithgloballeadinglightingandengineeringcompanies.

http://memoori.com

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Prism Skylabs

Established:PrismSkylabswasfoundedinJuly2011

Locations:SanFrancisco,California,USA(HQ);LondonandNewYorkoffices

Founders:FoundedbyvideosurveillanceexpertSteveRussell,founderof3VRandSiliconValleyinvestorRonPalmeri.

Management:SteveRussell,CEO


FundingStage:$15millionSeriesBFundingRoundinOctober2013;CurrentlyconsideringSeriesCround.


Investors:

• SeriesB;IntelCapital,PresidioVentures,TrianglePeak,DataCollectiveandExpa• SeriesA;TrianglePeakPartners,PacificPartners,AndreessenHorowitz,IDGVentures,

AnthemVenturePartners,Eagle,MkIIVentures,SeriesG,andDataCollective• Seed;theSVAngel,YuriMilner,EricSchmidt,AaronPatzer,BradGarlinghouse,the

CrunchFundandothers

CategoryofBusiness:Security

EstimatedSales(2016):$20-$200millionrange

Offering:Cloudservicetransforminganyvideocameraintoabusinessintelligencetoolthatcanbeaccessedfromanydevice.Installscameraswithheatmappingsoftwareandprovidesanalyticalservices.

Differentiation:Dataprivacyisaveryimportantfeatureofthesoftware,whichhasenabledthecompanytogaincompetitiveadvantage.

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Partnerships:PrismConnectisaprogramthatprovidescameramanufacturerswiththeresourcestoembedPrismdirectlyontotheirdevices.CurrentpartnersincludeAxisCommunications,PointGrey,HikvisionandFLIR.

Customers: 300+customersintheretailsector

MostImportantAchievementtodate:Overfiveyears,Prismhasattractedmorethan400retailstoredeploymentsin77countries.

TargetMarkets:Focusedonanalyticsfortheretailsector.

GrowthStrategies:LeveragingnewcapabilitiesbuiltfromArtificialIntelligence,computervisionandmachinelearningtofullytapthehiddenvaluewithinvideo.

http://memoori.com

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Riptide

Founded:RiptideIOwasestablishedinlate2012

Locations:SantaBarbara,California,USA(HQ);developmentofficesinBangalore,India

Founders:MikeFranco,DaveLeimbrock,MartiOgramandShawnLeimbrock,allpreviouslyatCiscoSystemsSmart+ConnectedBuildingsGroup.

Management:CEO:MikeFranco


FundingStage:SeriesAfunding,December2015


Investors:Daikinacquiredaminoritystakeinthecompanyin2015


EstimatedSales(2016):under$5millionrevenuesOffering:ThecompanyisaimingtomovebeyondIoTintheHVACarenaintomid-markettotalbuildingautomationwith"thefirstaffordableturn-keycloud-basedmonitoringandcontrolsystemforsmalltomid-sizedmulti-siteretailoperations".Riptidelauncheditscloudbasedsolutionforsmalltomedium-sizedcommercialbuildingsinMarch2016.

Riptidealsooffersanenterpriseapplicationplatformwithbuilt-inanalytics,whichcanbeintegratedwithexistingbuildingmanagementsystemsfromsupplierssuchasJohnsonControls,SiemensandTrane.

Customers:MajorU.S.retailerhas8,000storesacrosstheUS,andRiptidehassensorsembeddedinabouthalfofthem,asitmonitorsHVAC,lighting,irrigationcontrol,fireandsafetycontrols,andmore.Eachbuildingsystemhasaprogrammablecontrollerthatmonitorsorturnsthesensorsoffandon,dimsthem,andsetstheirtemperatures.

AccordingtoanarticleontheRiptidewebsite,"inthosestores,therearesomethinglike1millionsensors.RiptideCEOMikeFrancosaidthatthedatacomingoutofthemrunsthegamut.Someofthesensorssampledataonceaminute,someevery5minutes,andotherssampleat15-minuteintervals.Somechangevalues.Therearenoconsistenttimestamps,noconsistenttimezones,andnoconsistentnamesofdatapoints.“It’svery,veryunstructured,”Francosaid.

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Whatisconsistent,then?It’salltimeseriesdata—alotoftimeseriesdata.Forthepastthreeyears,retailerssensordataoutputhasequaledabout5terabytes."

Riptideisalsodevelopingcloud-basedbuildingmanagementtools,andconnectingsensorsonrooftopmachinesincommercialbuildingsthathouseretailers,includingNordstrom,andothernationalchainretailers.

Partnerships:ThecompanyhasbeenastrategicpartnerofDaikinAppliedAmericas,providingtheIoTbackenginefortheircloud-basedIntelligentRooftopequipmentandinNovember2015,Daikinacquiredaminoritystakeinthecompany.Riptide’stechnologypartnersincludeGoogleCloud,Intel,DellandDatastax.

MostImportantAchievementtoDate:Completingoneofthelargestsensornetworksforbuildingdata.Helpingtheircustomerrootoutwasteandinefficiencythathasleadtobettercustomerexperiencesandlessspend.

TargetMarkets:Thecompanyisinitiallytargetingthesevenmillionbusinessestablishmentswhooperatein4.4millionsmalltomedium-sizedbuildingsacrosstheUnitedStatesandlackatraditionalbuildingautomationsystem.Riptideisfocusingitslaunchontheretailandretailfoodmarkets.Theirsolutionisalsosuitableforschools,healthcarefacilitiesandothercommercialbuildings.

StrategiesforGrowth:Inthelong-term,Riptideisaimingtoincreaseitsdistributionchannels,bypartneringwithHVACservicecompanieswhowanttomovetowardtrigger-basedmaintenanceandrepairs.Theyalsowanttoexpandbeyondtheretailsectortootherverticalmarkets.

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Stem

Founded:StemwasestablishedinMarch2009asPowergeneticsInc.Thecompanypivoteditsbusinessmodelfromhardwaretosoftwarein2012.

Locations:Millbrae,California,USA(headquarters)withoperationsinHawaiiandNewYork.

Founders:BrianThompson

Management:JohnCarrington,CEO;KarenButterfield,ChiefCommercialofficer;LarshJohnson,ChiefTechnologyOfficer;BillBush,ChiefFinancialOfficer


FundingStage:SeriesC,May2016

TotalFunding:$212.20million,including$100millioninprivateequityfundingfromStarwoodEnergyGroupinAugust2016

Investors:AngelenoGroup,GEVentures,ConstellationTechnologyVentures,TotalEnergyVentures,Mitsui,RWE,MithrilCapitalManagementandStarwoodEnergyGroup

CategoryofBusiness:EnergyStorage


Offering:Stem,aleadingproviderofintelligentenergystorage,combinesbigdata,predictiveanalyticsandadvancedenergystoragetosimultaneouslyreduceelectricitycostsforbusinessesandinaggregate,deliverservicestothegrid.

Partnerships:Thecompany'scommercialrelationshipsunderscorethegrowingoverlapbetweenstorageandrenewables.IthasapartnershipwithSunPowertargetingC&Icustomersinterestedinpairingsolarandstorage.

Thecompanyalsohaspartnershipswithagrowingnumberofutilitiesandgridoperatorsandthereisalsointerestinthetechnologyfromtheutilityinvestors(RWEandConstellation).

Customers:CompaniessuchasSafeway,WellsFargo,RelianceSteel,WholeFoodsandAdobesubscribetoStem’sstorage-as-a-servicesolution.

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TargetMarkets:Energystorageforcommercialandindustrialfacilitieswithmorethan75MWhofprojectsdeployedorundercontractacrossmorethan480locationsacrosstheUnitedStates.

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Switch Automation

Founded:SwitchAutomationwasestablishedin2005,buthasundergonesignificantchangessincethen.In2010,thestartuppivotedfromahardware-basedplatformtargetinghigh-endindividualapartmentstoacloud-basedplatformtargetingenterpriseIoTapplications.

Locations:SanFrancisco,Calif.(headquarters)andofficesinDenver,Colo.andSydney,Australia.

Founders:DeborahNollerandJohnDarlington

Management:DeborahNoller,CEO;JohnDarlington,CTO


FundingStage:Pre-SeriesA.Self-fundeduntilseedfundingroundin2015

TotalFunding:Receivedfundingforthefirsttimein2015intwotranches,totaling$2.2mUSD;currentlyraising$3-5mUSDontheconvertiblenote.

Investors:Australianangelinvestornetwork,ScaleInvestors,PearleInvestors.

ParticipationinAccelerators/Incubators:

• AlchemistAccelerator,November2015• DellforEntrepreneursFounders50initiative,September2014• SpringboardEnterprises,2013



Offering:SwitchAutomationdeliversEnterpriseOperationsandPortfolioManagementviathecloud.TheSwitchPlatformisusedbyitscustomersfordataacquisition,visualization,monitoringandcontroloflargeportfoliosofbuildingsspreadacrosstheglobe.ThePlatformprovidessuperiorvisualizationintobuildingperformanceforidentificationandactionon

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efficiencyimprovementsandcostsaving.Amarket-leadingproviderofbuildingautomationandenergymanagementsoftwareforcommercial,industrialandresidentialproperties,withprojectsintheUSA,Australia,AsiaandEurope,Switchleadsthefieldindeliveringits“software-as-a-service”(SaaS)platformthroughaflexibleandscalablecloud-basedglobalframework,poweredbytheMicrosoftAzureinfrastructure.

Competitors:Tridium'sNiagaraframeworkisastrongcompetitor.

Partnerships:CollaborationwithNHP,todeliverInfoSyteenergymanagementsoftwaresolutiontailoredfortheAustralianandNewZealandmarkets,poweredbySwitchAutomation(October2016).AlsopartnerwithMicrosoftforAzureandwithIntelandDellforgateways.

MostImportantAchievementstodate:

• TheSwitchplatformwas6yearsinthemakingandtheyhavespentcloseto$7.5milUSDonit.

• Buildingtheteam,hiringtherightpeopleattherighttime.• Builtascalablesolutionthatdisruptedthebuilding-by-buildingmanagementapproach

likeneverbefore.Thismodelallowstheenterprisetomanagetheirentireportfolio;regardlessofgeographicmarketorsector.

• ProvedthemodelandsolutionbysecuringenterprisecustomerswhonowhavetheirentireportfolioontheSwitchPlatformandareusingthedatatoidentifyandsolvecostlyproblemsandproactivelymanageoccupantcomfort.

Customers:Switchcustomersincludetheworld’sleadingbanks,technologycompanies,REITs,universities,telcosandretailstores.8,000buildingsusetheSwitchplatform.

TargetMarkets:FocusedonCommercialRealEstate,REITsandCorporateRealEstateinAustraliaandUSA.

GrowthStrategies:

• SeriesAfundingroundplannedforearly2017• ExpansioninUSmarketandbeyond• Expandthechannelpartnerecosystem.

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Verdigris Technologies

Established:VerdigrisTechnologieswasestablishedin2011

Location:VerdigrisislocatedinSiliconValleyattheNASAAmesResearchParkatMountainView,California.

Founders:MarkChungandJonathanChu.

Management:MarkChung,CEO

NumberofEmployees:20/Oct2016

FundingStage:SeriesAextension/Oct2016


Investors:JabilCircuit,VerizonVentures


EstimatedSales(2016):Revenuesinsingledigit$millions.

TargetMarkets:GeographicfocusisondomesticU.S.companiesinhospitality,manufacturing,andhealthcarefacilities.Thecompanydoeshaveapresencein10countries.

InthepastsixmonthssinceMar2016,Verdigrishasachievedincreasedtractioninhospitality,manufacturingandcommercialpropertyverticals,with5xgrowthinthenumberofsubscribingcustomers,and75%ofbudget-qualifiedpilotcustomersconvertingtopayingcontracts.

Buildingstockfocusisonlargeindustrialandcommercialbuildings,withandwithoutaBMS.

Offering:VerdigrisBuilding.AIiscloudanalyticssoftwareforenterprisefacilitiesmanagersandlargecommercialbuildings.Itallowsthemtooptimizeoperations,increasefacilityuptime,andsaveonenergycosts.

InAug2016,VerdigrislaunchedEinstein,theirlatestIoTenergymanagementplatform.Itisdesignedtobetheeasiestmost-scalableconnectedsensorforcomplexenterprisefacilities.ByanalyzingEinstein’scontinuousstreamofenergydata,Verdigrisdrivessmarterandmoreresponsivebuildingoperation,savingcustomerstensofthousandstomillionsofdollarsannuallyonenergycosts.VerdigrisCEOMarkChungsays:“Einsteinmakesitunbelievablyeasytoknowwhat’shappeninginsideyourbuildinginrealtime,downtoasingleappliance.

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“Weputhard-earnedmoneybackintoourcustomers’pocketseachmonthbypredictingthemostaccurateforecastsofutility,weatherandenergydata,andautomatingthereductionoftheirmostinefficientenergyoperations.”Customers : VerdigriscustomersincludeStarwoodHotelsGroup,HyattHotelsCorporation,Flextronics,Autodesk,Honeywell,IntercontinentalHotels,Jabil,Marriott,MegabessandNRG.

Differentiation:Verdigrisoffersanintegratedcloud-basedsoftwareplatform(SaaS)andproprietarysensorsattachedtotheelectricpanelinbuildings.Ithasahighlevelofgranularityindataanalysisandadvancedmachinelearningalgorithms.TheirofferingisnotreliantonaBMS,theyofferthelatestgenerationofproductsandalowercostsolution.

Competition:Competingwithestablishedincumbents,suchasSiemens,HoneywellandSchneiderElectric.

MostImportantAchievementtodate:In2016,EinsteinplatformwasthefirstULcertifiedsystemforretrofitincommercialbuildings

GrowthStrategy/BusinessDevelopment:Thecompanyisstillatanearlystageindevelopment.Theyaremovingtowardscommercializationandhavethreemajorapproachesforgrowth:

• Directcustomeracquisition,whichwilltakesometimetoestablish• Partneringwithenergyservicecompanies• Partneringwithtelecoms/ITplayerswhoaremovingintothissector.Verdigrisregards

thischannelaspotentiallydisruptivetotheincumbentplayers.

15 Start Ups to watch in 2017! - Memoori · 15 StartUps to Watch! 2017 The 15 profiles in this report have been selected, according to Memoori's view of "Companies to Watch in 2017".

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