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KODE Labs Raised $30M Series B Funding

KODE Labs Raised $30M Series B Funding

Code LabsA Detroit-based autonomous smart building startup has successfully closed a $30 million Series B funding round led by Maverix Private Equity. The round also saw enthusiastic participation from TELUS Ventures and existing investor I Squared Capital. This infusion of strategic capital marks an important milestone for KODE, empowering the company to advance its mission to facilitate net zero emissions in buildings worldwide.

Founded in October 2017 by brothers Edi and Etrit Demaj along with Gentrit Gojani, KODE is committed to enhancing the intelligence, health and efficiency of buildings to enrich the experiences of their occupants. Etrit Demaj, co-founder of KODE Labs, highlighted the critical role of construction operations in combating climate change, with buildings currently accounting for 39% of global carbon emissions.

“Maverix's leadership is perfectly aligned with our vision,” said Demaj. “With the continued support of TELUS Ventures and I Squared Capital, we are well-positioned to advance our mission, promote energy efficiency and create exceptional building experiences for residents.”

CodeLabs has revolutionized the smart building landscape with its innovative approach centered around its enterprise platform. This state-of-the-art solution seamlessly integrates data from disparate building management systems, IoT devices, and operational systems into a unified, cloud-based infrastructure. This ability to standardize and organize data at scale makes Code a pioneer in AI technology developed for buildings.

Co-founder Edi Demaj emphasized the tangible results delivered by KODE's technology, including significant reductions in energy consumption and carbon emissions, often up to 30%. With a proven track record, Code's platform serves Fortune 500 corporations, retailers, financial institutions, and global REITs across sectors, delivering significant returns on investment in less than 12 months.

“Our platform serves as the ultimate operating system for buildings, offering full command and orchestration capabilities,” explained Edi Demaj. “By leveraging machine learning and artificial intelligence, we enhance user experiences while achieving sustainable results.”

Peter Haas, partner at Maverix Private Equity, expressed confidence in KODE's leadership and vision. “Code is leading the way in helping real estate portfolios become more sustainable and improve user experiences,” Haas said. “We are thrilled to partner with them on the next stage of development.”

With annual recurring revenue growth of more than 200% each year for the past three years, KODE Labs will use the Series B funding to further expand its AI development. By analyzing vast amounts of data, KODE aims to create buildings that prioritize both human experience and environmental impact, envisioning a future where performance meets human-centered design.

Since its inception, KODE Labs has been at the forefront of transforming the smart building landscape globally, with partnerships established in North America, Europe and Australia. This investment will accelerate KODE's expansion and solidify its position as a leader in sustainable construction solutions.

The Series B funding underscores Code's unwavering commitment to building a sustainable future, one smart portfolio at a time.

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