New Zealand building management proptech Tether has raised NZ$655,000 (A$592k) as it expands into the Australian market and Europe.
The startup managed to avoid venture funding, securing backing from high net worth individuals on three continents as part of its global focus.
In May 2023, Tether raised NZ$844,050 via crowdfunding platform Snowball Effect, taking the total raised to $1.5 million (A$1.36m).
Founded in 2017 by Brandon Van Blerk, Tether offers facilities managers the ability to monitor building analytics to reduce their carbon footprint and costs on a single platform.
Van Blerk’s team have developed locally manufactured sensors that are as easy to install as smoke alarms, providing instant insights on performance benchmarks, along with predictive maintenance reports and suggested actions to optimise a building’s heating, cooling and lighting systems to reduce cost, as well as flagging air and indoor environmental quality hazards.
The platform can also be used to ensure building upgrades to a building will achieve their intended cost and carbon reduction, making energy reporting and ESG compliance easier. Its client base includes Westpac, Douglas Pharmaceuticals, BRANZ and Kainga Ora, and Teher recently installed its 10,000th sensor in a building in New Zealand.
Van Blerk said the sensing devices don’t need wifi connection and are self-powere to act as mini radio broadcast stations, communicating in real-time to a cloud based analytics platform.
“Unlike solutions that monitor a single source of data, Tether has been designed to integrate and analyse multiple datasets to provide insights that acts as a ‘facilities team coach’,” he said.
“This takes the guesswork out of optimising a building’s systems so that what a team envisioned for its performance is easier to achieve.”
Van Blerk set out to bring all the issues around building monitoring and maintenance under one roof.
“To date, creating a unified view of a building’s performance has involved multiple different technologies including occupancy sensing, air and water quality monitoring and smart metres for electrical consumption; with none of these technologies integrating into a cohesive and interconnected platform,” he said.
“Without this understanding, it’s simply impossible to gauge where you’re at or to aim for improvement.”
The Tether CEO said that after capturing “the lion’s share” of large building monitoring services in New Zealand, along with early customers in Spain, a partnership with Ricoh and their workplace experience platform, RICOH Spaces, will see the business expand into Australia, the UK and the rest of Europe next month.
“Our funding round and expansion into new markets signify more than just growth — they represent our commitment to driving a more sustainable, data-driven future of work,” Van Blerk said.
“By leveraging real-time data, Tether empowers organisations to significantly reduce their carbon footprint and enhance workplace health. We’re pioneering a future where buildings not only meet but exceed their performance goals.”
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