KODE Labs in Detroit Completes $30M Series B Round to Advance Smart Buildings

KODE Labs, a Detroit-based autonomous smart building company, today announced the closure of a $30 million Series B round. Led by Maverix Private Equity, the round included TELUS Ventures and existing investor I Squared Capital.
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KODELabs
KODE Labs, a Detroit-based autonomous smart building company, today announced the closure of a $30 million Series B round. // Stock photo

KODE Labs, a Detroit-based autonomous smart building company, today announced the closure of a $30 million Series B round. Led by Maverix Private Equity, the round included TELUS Ventures and existing investor I Squared Capital.

Detroit businessman Jay Farner, founder and principal of Ronin Capital Partners in Detroit, also participated in the round. Most recently, Farner was CEO of Rocket Cos. in Detroit.

Founded in October 2017 by brothers Edi and Etrit Demaj, along with Gentrit Gojani, KODE’s mission is to enhance the intelligence, health, and efficiency of buildings, ultimately achieving net-zero emissions.

KODE Labs specializes in transforming real estate management and experience through its data-centric operating system, KODE OS. The smart building platform leverages a software-as-a-service (SaaS) model to optimize building performance, integrating data from building management systems, IoT, and operational systems into a unified, cloud-based solution.

The company states its platform has proven to reduce energy usage and carbon emissions by up to 30 percent, while streamlining costs associated with multiple tracking and reporting platforms.

Etrit Demaj stated buildings account for 39 percent of global carbon emissions.

“Maverix’s leadership precisely aligned with our vision. With the follow on from TELUS Ventures and continued support of I Squared Capital, we are in the best possible position to propel our mission forward and combat climate change by making all buildings more energy efficient while creating amazing experiences,” says Demaj.

KODE Labs’ enterprise platform integrates data from a multitude of building management systems, IoT devices, and operational systems into a unified, cloud-based infrastructure.

The company states its capacity to standardize and organize data at scale across diverse systems and numerous buildings worldwide, positions it as a trailblazer in AI technology tailored for buildings.

Co-founder Edi Demaj says KODE’s technology consistently achieves operational excellence, yielding significant outcomes like reducing energy consumption and carbon emissions.

KODE’s client base, which includes Fortune 500 corporations, retailers, financial institutions, and global REITs, caterers to an array of sectors such as commercial, mixed-use, high-rise residential, life sciences, and industrial.

“Users prioritize a seamless experience over managing multiple screens and platforms,” says Edi Demaj. “Our platform serves as the definitive operating system, offering complete command and orchestration capabilities. Leveraging machine learning and AI across billions of standardized data points, we enhance user experiences while delivering measurable return on investment in under 12 months.”

Over the past three years, KODE reports its annual recurring revenue has more than doubled, showing growth of more than 200 percent each year.

With the Series B round, KODE Labs will enhance its AI development to add more innovation to building operations and experiences. By analyzing vast amounts of data from various systems, KODE aims to create building operations that prioritize human experience and environmental impact, envisioning a future where efficiency meets human-centric design.

“KODE is the leading company helping real estate portfolios become more sustainable, improve user experience, and become truly smart,” says Peter Hass, a partner at Maverix Private Equity. “They have an exceptional management team, and we couldn’t be more excited to partner with them on their next stage of growth.”

Since its inception in 2017, KODE Labs has been at the forefront of transforming the smart building landscape across North America, Europe, and Australia. With partnerships established with QuadReal, Bedrock Detroit, Stream Realty, Hines, Ford, and other global corporations and REITs across different verticals, KODE states the investment will continue to accelerate its expansion and market share.

For more information, visit kodelabs.com.