Boston’s Monaire has raised $3.5 million in seed funding to revolutionize HVAC systems in the US’s small commercial sector, which constitutes 94% of all commercial buildings.
With AI technology, Monaire targets reducing the projected 7.5 gigatons of CO2e emissions from these buildings by 2050, focusing on energy-efficient, cost-effective solutions.
The funding, led by Construct Capital with contributions from notable investors like Steve Fredette and Tom Kuo, will fuel the development of Monaire’s AI-driven maintenance and energy management solutions.
Founded by Nishant Kanapilly and Rahul Subramany in 2022, the company optimizes HVAC and refrigeration systems to minimize waste, emissions, and operational costs, aiming for a significant environmental impact.
“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.
Monaire eases that pain by modernising 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.”
— Rahul Subramany, Co-founder of Monaire.
“Old-school analog systems dominate critical HVAC/R technology used in small commercial operations.”
Tech-driven yet economical solutions that show immediate results and impact are needed to help revitalise and modernise small commercial businesses. Monaire’s pricing and maintenance coupled with easy-to-install, low-tech hardware brings a really elegant solution to this market.”
— Dayna Grayson, partner at Construct Capital.
“Heating, cooling, and refrigeration systems are a major contributor to climate change.”
Monaire’s initiatives have the potential to significantly mitigate climate change impacts by reducing 1 GT of CO2e emissions from small commercial HVAC/R systems — the equivalent of removing 217 million cars from the road for one year.”
— Chad Laurans, partner at Workshop Ventures and co-founder and chairman of SimpliSafe.
Featured image: Monaire logo. Credit: Monaire
