Author - Kate Prebble

Switch Automation Completes Fundraising Round

Switch Automation Completes Fundraising Round

Gaw Capital Partners, through a separate account investment, has expanded its investment in proptech by backing two startup companies.

The real estate private equity firm has co-led with Openspace Venture in an $8.3m (€7.7m) financing for SensorFlow, a Singapore-based company that helps hotels and commercial properties optimise their energy and operational efficiency.

Gaw Capital said it also led a $5m fundraising round, together with Allectus Capital, MetaProp and RealTechX for Switch Automation, a global real estate software company that helps property owners and facility managers reduce operating costs, improve energy efficiency and deliver exceptional occupant satisfaction.

The funding will be used to further develop the two companies’ smart building technology and expand into new markets across the globe.

The latest proptech investment broadens Gaw Capital’s exposure to the sector via its private equity-type investments through its funds under its management and separate account investments in recent years including Beike, Ziroom, Candao and Tencent Trusted Doctors.

Christina Gaw, managing principal and head of capital markets of Gaw Capital Partners, said: “We are excited by the versatile solutions offered and developed by SensorFlow and Switch Automation, which will enable better operational productivity and more efficient resource deployment.

“We foresee big commercial real estate owners and managers integrating smart building solutions in the not-too-distant future.”