The move is led by Wavemaker Ventures and Philippines-based property developer Menarco Development Corporation
SMART indoor environmental quality monitoring and management startup uHoo has raised US$3.7 million in a mix of equity and debt funding.
The funding was led by Wavemaker Ventures – the early-stage fund of Wavemaker Partners – and Philippines-based property developer Menarco Development Corporation. Other investors that participated include Undivided Ventures, Lighthouse Canton and CEO of Philippines-based office developer NEO Office Raymond Rufino.
Of the funds raised, US$2.7 million was in equity funding and US$1 million was in debt funding.
The startup provides solutions for indoor air-quality monitoring, allowing customers to collect data on temperature, humidity, noise levels, chemical pollutants and particle sizes in their properties. The data can be used to glean insights to build more comfortable indoor environments and improve building performance.
The system integrates with existing building systems, allowing for automated air-conditioning, ventilation and heating controls to save energy and occupants’ health.
“These solid and meaningful benefits continually drive the organic growth of uHoo’s B2B customers, such as CapitaLand and JLL, and secure strategic deals across key markets in Asia-Pacific,” said Joel Ang, principal at Wavemaker Ventures.
The funds will be used for uHoo’s expansion, in particular into the business to business segment. Funding will also be used for development of new hardware and software.
“By enabling organisations to create healthier and more sustainable spaces, we are driving real change and addressing some of the most pressing challenges of our time,” said Dustin Onghanseng, co-founder and CEO of uHoo.
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