Intu backs proptech venture

Published:  18 July, 2017

Smart building technology company enModus lands £3m in Series A funding

enModus, a smart building technology company from Wales, has secured £3m in Series A funding from three main investors including one of the UK’s largest shopping centre owners.

Intu has made a significant investment in enModus alongside Breed Reply, an active operational investor for early stage companies in the Internet of Things, and Finance Wales, one of Britain’s largest regional SME investment companies.

enModus, based in Chepstow, Wales, has developed powerline technology which enables property owners to control, monitor and connect to the internet anything that is mains powered in a building at a fraction of the cost of existing solutions, with considerably less installation disruption. Its patented technology, Wattwave, can transform any industrial, commercial or retail property into a smart building, simply by connecting all devices to the cloud via the existing power line.

Launched in 2010, enModus specialises in Smart Light Control and Building Energy Managemen). The £3m in Series A funding, which brings total investments to date to £9m, will help the company accelerate its growth across Europe, North America, Asia-Pacific and beyond. Already boasting global customers including Volvo, the 16-strong start-up aims to double staff numbers in its engineering and commercial teams within the next 18 months.

Trevor Pereira, commercial and digital director of intu, added: “Our purpose is to bring a smile to the faces of our customers, and help our tenants to flourish. We achieve this through a number of ways, one of which includes spotting new ideas and innovations that will help shape the future of our industry and the way in which we operate. We were impressed by the team at enModus’ – and the massive potential their technology offers. We’re looking forward to exploring this further and supporting enModus with their growth plans.”

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