Boston – Monaire, a startup that uses AI to curb waste and emissions from small commercial buildings, recently announced $3.5 million in seed funding. Construct Capital led the round with participation from Workshop Ventures, as well as strategic individual investments from Steve Fredette, the president and co-founder of Toast, and Tom Kuo, co-founder of A-Street and chairman of the board at Mighty Earth.
Monaire’s predictive maintenance and energy management platform automatically detects, diagnoses, and services HVAC and refrigeration (HVAC/R) systems in small commercial buildings. Using a network of wireless sensors, Monaire’s AI-enabled software continually monitors performance in a building’s HVAC/R systems, automatically preventing energy waste, and detecting problems. When issues are detected, Monaire immediately diagnoses the problem and automatically dispatches an available technician to make repairs.
“Upgrading and efficiently managing HVAC/R systems requires a lot of money and skilled technicians, both of which are often out of reach for the owners of small commercial buildings,” said Rahul Subramany, co-founder of Monaire. “Monaire eases that pain by modernizing a building’s existing HVAC/R system using our advanced wireless sensors, smart controllers, and AI monitoring. Instead of wasting food, energy, and money while waiting for emergency fixes, Monaire instantly makes buildings more efficient while automatically detecting and fixing problems before they fail.”
Small commercial building HVAC/R systems are a considerable source of carbon emissions, estimated to release 7.5 GT of CO2e in wasted emissions through 2050. Monaire aims to prevent 1 GT of that waste by creating new efficiencies by reducing system runtimes, preventing refrigerant leaks and food spoilage, upgrading HVAC/R systems, and reducing inefficient operations, while also helping to build and run a more sustainable, efficient grid.
The company plans to use the funding to continue developing its proprietary sensors and AI technology, as well as expanding into additional markets across the U.S.
