Tallinn, Estonia – R8 Technologies OÜ today announced that it has closed the 2023 investment round, welcoming technology leader the Panasonic Corporation, sustainable energy leader Encevo, and environmentally conscious real estate Møller Eiendom as international investors and partners.
In the European Union, buildings are responsible for 40% of energy consumption and 36% of greenhouse gas emissions, all while playing a crucial role in maintaining the electricity grid’s balance. R8 Technologies is a growing European tech company that offers a human-centric AI-powered solution, R8 Digital Operator Jenny, to help achieve climate-neutral real estate. The data-driven artificial intelligence solution helps achieve sustainable building management by improving the efficiency of real estate operations, reducing energy consumption and CO2 emissions.
R8 Technologies’ AI solution is a powerful tool to help the real estate sector reach sustainability goals and lay a pathway to climate-neutral properties. In line with the European commitments and corporate responsibility goals, the investment round aims to support further international expansion of R8
Technologies, continuous technological leadership, and development of R8 AI-powered software solutions.
Comments from Kunio Gohara, Head of Corporate Venture Capital Office, Panasonic Corporation:
We expect this investment in R8 Technologies, a company that provides energy management services using highly regarded AI-powered technology, to accelerate our initiatives to achieve both comfort, sustainability, and energy-saving benefits, especially in light of the current energy crisis in
Europe.
Comments from Nicolas Milerioux, Head of Venture Capital, Encevo:
Encevo actively supports the development and deployment of innovative technology that accelerates innovation for and with our clients. Commercial real estate has steep energy efficiency objectives to fulfil combined with a supplementary challenge of better integration of onsite power generation
and EV charging services. I see R8 Technologies’ products providing us interesting insights, experience, and expertise in this endeavor, especially those demand response capabilities, whilst complementing other solutions already in our toolkit.
Comments from Ole Fredrik Baadshaug, Investment Manager, Møller Eiendom:
Møller Eiendom has selected R8 Technologies to help realize our goals of achieving a more sustainable real estate portfolio. Using AI was our preferred solution to reduce energy consumption and save time in the way we run and monitor our building management systems (BMS). Our investment in R8 Technologies supports our belief that they have the market leading technology in optimizing for comfort and energy efficiency in buildings, helping on the path towards lower environmental impact of the real estate
sector.
Comments from Siim Täkker, Co-Founder and Chief Executive Officer, R8 Technologies:
We are honored to share a joint sustainability mission with Panasonic Corporation, Encevo, and Møller Eiendom. R8 Technologies strives to accelerate the transition to a low-carbon future using cutting-edge AI technology, the R8 Digital Operator Jenny. R8 Jenny is the continuously improving AI software, an ultimate real estate technical assistant. It is the game-changer for sustainable real estate that can enhance the entire sector’s impact on climate change mitigation.
By extending our partnerships, developing international expertise, and engaging with the global community, we help shape environmentally responsible business practices, fostering greener governance, smart cities, smart grids, and a more sustainable future across the globe. We believe we can achieve global real estate climate neutrality by working together.
I want to thank the R8 Technologies team for pushing the boundaries and our clients for their trust and support. I would also like to thank the leading partner, Intergroup Partners, and legal partner, Ellex Raidla, for helping facilitate the successful completion of the 2023 investment round.
About R8 Technologies
R8 Technologies is the leading human-centric Artificial Intelligence (AI) technology company that manages over 4 million m2 of commercial real estate across Europe. Using R8 Digital Operator, a data-driven AI solution, R8tech helps enhance building operations of real estate properties, including office and public buildings, shopping malls, and hotels. R8 Digital Operator allows to reduce building operational expenses, increase in property value, upgrade building energy class, reduce CO2 emissions, and achieve sustainability compliance.
R8 Technologies Europe-wide client real estate portfolios include Merlin Properties, Alecta Fastigheter, Nepi Rockcastle, Eften Capital, Capitalica Asset Management, Kapitel, Swedbank, Radisson, Pontos Group, Linstow Baltic, Citycon, Ülemiste City and many more.