Over 600 startups active in smart buildings sector, says Memoori
Over 600 startups active in smart buildings sector, says Memoori
Date: 2019/08/16
Source: Elvina Yang

We’ve heard of several big names in the smart building sector, however, many startup companies are also playing an important role pushing innovation in smart buildings.  According to smart building research firm Memoori’s report, there were 482 private companies founded between 2009 and 2018 in the smart building sector. Additionally, 190 startups have been acquired and 13 have filed for an IPO since 2009. Therefore, there are over 600 active new companies in the smart building sector. 

Investment in the global smart building sector reached a new record in 2018, with over US$2.4 billion in startups, according to Memoori. Also, almost 60 percent of acquisitions of smart building startups since 2012 have happened in the last two years. During the first month 2019, for example, three acquisitions of startups in the sector were announced: WeWork purchased spatial analytics firm Euclid, Buddy Platform acquired smart lighting company LiFX and Tendril took over Disaggregation-as-a-Service pioneer EEme. 

"Smart building innovators can expect to be closely followed by all the stakeholders in the built environment: those involved in supplying software, solutions and services for building technology infrastructure, commercial real estate operations, facilities management, IT, telecommunications and energy services,” wrote Memoori in the statement. 

Most startups (about 200) focus on BIoT Platforms, according to Memoori’s report, followed by building energy management applications layer (64), indoor mapping & location services (55) and workplace management platforms & space utilization.  Looking beyond financial investment for new entrants in the market, Memoori’s report has also indicated a new trend: established solution providers to collaborate with startup companies, with a focus on flexible, early-stage, open-ended partnerships. 

Startups with the most funding

There’s a multitude of ways to list startups in the smart building sector, one of them is by market value. Memoori has listed the top 15 Startups by total funding in this report. 

Smart glasses startup, View has received US$1.8 billion in funding to date, making it the leading firm on the list. There’s no other startups in the sector receiving more than US$400 million in funding. AI-powered energy startup Stem, who are listed second on the list, has received US$321 million to date, followed by communication protocol Sigfox (US$310 million) and AMS (US$252 million). Other names included Tendril, Heliatek, Quanergy, Blippar, Kinestral and Actility.

Startups mentioned by Forbes

Forbes has also listed four startups in the smart building sector, “which are well worth looking out for.”


Czech startup Spaceti focuses on smart offices, and believes that the only way to achieve scale is to build an integrated approach in a single platform, combining hardware, sensors, data analytics and the user experience. 

The company designs its own sensors that measure things like, occupancy and indoor air quality, in order to remain independent from suppliers, but it also makes it integratable with external partners. In addition to a complete sensor portfolio, Spaceti’s analytics platform offers open APIs to integrate existing platforms in the buildings. Its clients include Vodafone, Invesco and Castellum.


UK-based Doordeck has built a SaaS platform to allow layering proprietary tech over existing hardware to open doors. Its special technology enables clients to install Doordeck autonomously, which has helped the company reach over 75 buildings in seven countries without meeting their customers face to face.


The Chicago-based startup has just revealed its first two products a few months ago: an operating system that runs a tenant’s entire experience in multi-family property, from when they move in to when move out; and a back-end support communication platform between management staff and tenants. The company wishes to play a role similar to an operating system’s use to a computer. 


Boston-based HqO aims to solve problems in four areas in commercial real estate - mobility, control, commerce and community. Its software, therefore, guides users through parking systems and public transportation, users have their phones turned into a remote control in CRE, which connects ground level retailers with landlords, and a communication tool for tenants and property owners. 

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