Summary:
Adaptis raises $4 million in seed funding to expand its carbon management platform.
Building Ventures leads the funding round with support from other major investors.
Expansion plans include operations in Canada, the U.S., and South America.
Focus on Class A building owners, with plans to reach Class B and C buildings.
Adaptis’ platform delivers solutions 20 times faster than traditional consulting methods.
Adaptis Raises $4 Million in Seed Funding
Proptech startup Adaptis has successfully raised $4 million in a seed funding round aimed at enhancing its carbon management platform for buildings. This Toronto-based, AI-driven company is set to expand its operations across Canada and the U.S.
Funding Details
The funding round was led by Building Ventures, with participation from notable investors such as MetaProp, 2048 Ventures, Powerhouse Ventures, and Blue Vision Capital.
Expansion Plans
According to Sheida Shahi, co-founder and CEO of Adaptis, the new capital will help the company broaden its reach in the U.S. and Canada. They recently began operations in South America and are currently running pilot projects in New York City and Seattle.
Targeting a Broader Market
As Adaptis scales up and brings more buildings on board, their focus is on Class A building owners. However, the ultimate goal is to extend their services to Class B and Class C buildings, which often lack the resources for effective decision-making in sustainability. Shahi emphasizes the need for better data collection and decision-making processes in these segments.
Simplifying Decision-Making
Adaptis aims to streamline decision-making by integrating financial, sustainability, and operational data into a single platform. This innovative approach allows users to track progress, adjust recommendations, and incorporate insights into capital planning workflows.
Heather Widman, partner at Building Ventures, stated, "Anyone who designs, develops, owns, or operates buildings and isn’t looking at whole-life carbon is leaving money on the table and taking undue risk." She expressed enthusiasm for supporting Adaptis as they scale globally, helping to boost net operating income while averting millions of tons of CO2 emissions.
Efficiency Over Traditional Consulting
Building owners often find traditional consulting processes for insights into energy use and emissions to be slow and costly. Shahi points out that Adaptis’ platform can deliver capital planning and sustainability solutions 20 times faster and at a fraction of the cost of conventional methods.
Zach Aarons, general partner at MetaProp, remarked on the slow and expensive nature of current decarbonization methods, highlighting that Adaptis represents the forefront of AI and machine learning in the industry.
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