Bandora Systems secures investment of 1.5 million euros for building optimisation
Bandora Systems secures investment of 1.5 million euros for building optimisation
Bandora Systems, a startup incubated at UPTEC, intends to expand operations in Europe and Latin America and increase its team from 12 to 23 employees.
Increasing the number of optimised buildings from 10 to 600 in less than two years is one of the goals Bandora Systems aims to achieve after raising 1.5 million euros in a new round of investment.
The spin-off from the University of Porto and startup incubated at UPTEC – Science and Technology Park of University of Porto uses artificial intelligence to improve energy efficiency and building resource management.
With this investment, led by BlueCrow Capital and with participation from Portugal Ventures, the startup aims to multiply its turnover by ten and optimise 300 buildings by the end of 2024. In addition, the business led by Márcia Pereira wants to increase its team – particularly in the sales and marketing areas – improve its technology and accelerate its entry into new markets, such as Brazil and the United Arab Emirates.
‘We’re going to invest in strategic partnerships to help Bandora position itself as a global leader in energy optimisation for smart buildings and reach new customer segments. In addition, we want to implement the Bandora Academy, which aims to train partners, agents and resellers to disseminate our technology and expand our presence in the market,’ says Márcia Pereira, the startup’s CEO.
In the medium term, the startup wants to implement its solution in 600 buildings, 150 of which have already been contracted, and establish a more solid presence in European and Latin American countries.
For the CEO of the UPTEC startup, this investment will ‘support the growth of our customer base and ensure the scalability of our HVAC system optimisation services. We are also developing new functionalities for our technology, such as integrating lighting systems, renewable energies, and electric vehicle charging,’ she says.
Founded in 2017, Bandora Systems develops artificial intelligence-based solutions for building optimisation. Their platform enables efficient energy monitoring and management, helping to reduce costs and improve occupant comfort. In the long term, they intend to consolidate their position as a global leader in energy optimisation for intelligent buildings. ‘Investment in new technologies, strategic partnerships and international expansion will be key to achieving a sustainable leadership and ensuring continued growth,’ concludes Márcia Pereira.
July 26, 2024