Singapore-based Smarten Spaces, closed a US$12M Series A investment round today. The investment was led by leading Asia investor Symphony International Holdings Limited (Symphony).
Smarten Spaces platform looks to fill the gap with a one-stop solution for space owners and managers to digitize and manage their space. The company believes that the goal of smart building technology is not necessarily to add sophistication but to identify and systematically eliminate the inefficiencies within the experience and workflows that currently exist.
Since it started in 2017, Smarten Spaces rapidly acquired customers in Singapore and India. They developed one of the world’s first end-to-end AI platforms to disrupt a US$19.9 billion smart space industry. Currently, they focus on enterprise offices, real estate developers, coworking, co-living and other spaces of work and leisure. Their platform enables space owners to offer spaces that will improve productivity, reduce operational costs and offer conveniences to the end-users.
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Anil Thadani, Chairman, Symphony International Holdings Limited said: “This is our first investment in a SaaS company and we are looking forward to working with Dinesh and his team to grow the business, especially in the real estate and hospitality industries where we have deep connections and significant investment experience.”
Dinesh Malkani, Founder & CEO, said that Symphony’s long-term view and portfolio of investments in real estate and consumer brands will create many synergistic opportunities as we for them to expand Smarten Spaces across the Asia Pacific and North America. Malkani added, “Our platform today provides the capability to provide intuitive user experience and optimize spaces. This lets us build the improved value of built spaces and long-term business relationships.”
Image credit: Photo by Unsplash
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