Verdigris Raises $9M in Funding

verdigrisVerdigris, a Moffett Field, Calif.-based provider of an IOT platform for commercial facilities to avoid downtime and reduce energy consumption, raised $9m in financing.

Backers included Jabil Circuit, Stanford-StartX Fund, Capital, Data Collective and angel investors.

Founded by Mark Chung and Jonathan Chu, Verdigris combines proprietary hardware, artificial intelligence, and software applications to deliver real-time recommendations for boosting the operational and energy efficiency of commercial buildings.
Once attached to a facility’s electrical panel, Verdigris smart sensors gather data and transform this information into a virtual physical data layer, from which it derives intelligent energy forecasts, motor fault sensor streams, and device level energy information, this allowing facility and operations teams to deliver actionable insights to improve operational efficiency.
Accelerated at StartX and, the company currently serves organizations in hospitality, manufacturing and commercial property verticals.
Customers include Starwood Hotels Group, Hyatt Hotels Corporation, and Flextronics.

Verdigris is located in Silicon Valley at the NASA Ames Research Park at Moffett Field.



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