TORONTO—The MaRS Cleantech Fund has entered a venture deal with CircuitMeter Inc., a company that’s developed a low-cost, circuit-by-circuit metering solution for commercial buildings to monitor and reduce energy costs.
CircuitMeter builds cloud-based electrical metering systems for commercial buildings that allow building managers and energy service firms to monitor energy flows in real time. Cloud-based analytics provide historical and real-time analysis, identifying energy drift from standard operation and fault notifications.
Dan Seto, CEO of CircuitMeter, says a building’s energy use can be challenging to quantify.
“Commercial buildings are mostly a black box when it comes to energy use,” Seto says. “If you can’t measure it, you can’t change it.”
The investment in CircuitMeter is the MaRS Cleantech Fund’s fourth deal since its inception in March 2011. The MaRS Cleantech Fund LP is a $30 million private venture fund focused on early-stage cleantech investing.