Tallinn-based R8tech, a digital building operator, has closed a €900K funding round from new investors. The startup is active in 12 different countries across the EU, including Portugal, Finland, Austria, Netherlands and Poland, and it plans to use the funding to take it further into new markets.
Founded in 2017, R8tech’s digital building operator platform takes advantage of Building Management Systems of large shopping centres, office buildings and other modern commercial buildings with thousands, if not tens of thousands of sensors and datapoints. It constantly monitors and optimizes indoor climate, detects faults in the system, and manages tasks for the property management company.
The result is energy savings between 10-20% per property which in return leads to reduced CO2 emission. For example a 25.000 sqm government office building in Tallinn, Estonia has saved even 31.5% of energy and 225 tons of CO2 in 4 months.
The company’s HQ is located in Tallinn, Estonia. Among the clients are WeWork, CBRE, EDP, Sokotel, EfTEN Capital and others. R8 Digital Operator is monitoring over 500,000 sqm of commercial buildings today, and the area will triple in 2021.
“There are over 5 billion square meters of commercial buildings in the EU according to the European Commission that are using too much energy while not reaching optimal indoor climate due to the complexity of the systems. R8tech has demonstrated a noticeable positive effect once integrated,” said Siim Täkker, CEO of R8tech.
Kristjan Mitt, the lead investor and the co-owner of Mitt&Perlebach construction and real estate development group: “Based on a long-term experience in construction and RE development I know what challenges have to be overcome in the field. Global development and success of the whole PropTech sector give an impressive signal that there is an enormous potential to benefit from PropTech. R8tech unique solution is beneficial for construction, RE owners, facility managers and buildings’ users. I would not be surprised if the R8tech solution would become a general standard in the market.”
R8tech is a member of PropTech Finland, UK PropTech ja GreenTech Alliance.
In 2019 R8tech was awarded Winner of Ramboll Bright Ideas Challenge. In 2020, R8tech was awarded Best Building Energy Efficiency Solution by Wealth&Finance International.