FRASERS Property Group has joined a US$6.5 million seed funding round for US smart building software startup Cohesion, the Singapore-based real-estate player announced on Thursday.
Cohesion helps commercial real-estate operators integrate their buildings’ systems, enhance tenant experiences and provide insights. It aims to fill the gap between existing tenant-facing apps and legacy-building engineering systems, enhancing tenants’ health and safety.
Frasers Property is a client of Cohesion. The startup’s other clients include The John Buck Company, Transwestern and Riverside Investment and Development.
The funding round was led by US venture firm Hyde Park Angels. Besides Frasers Property, other investors included Raj Gupta, executive chairman of engineering firm ESD Global; Ken Griffin, founder and chief executive of hedge fund Citadel; Michael Sacks, chief executive of asset manager GCM Grosvenor and investment firm CMT.
Frasers Property is looking to leverage data-driven technologies to better manage its global real-estate portfolio, said its chief executive Panote Sirivadhanabhakdi.
“We believe investing in Cohesion’s solution enables us to realise a vision where building systems and workflows can be seamlessly connected in a centralised intelligent building platform and has the ability to help create a future of work experience,” he said.
He added: “Whether it is helping to improve people’s well-being through effective air-quality management, supporting a sustainability agenda, or potentially yielding some cost efficiencies, we believe the overall benefits will also enhance a more connected user experience.”
Over the next year, Cohesion is looking to fill 25 full-time positions in product development, sales, marketing, implementation and customer success, to scale its business.