En-trak, a Hong Kong-based smart building solutions company, has completed a pre-series A round of financing led by Alibaba Entrepreneurs Fund and CLP Innovation Ventures Limited.
The investment, the amount of which was not disclosed, will be used for the expansion of its sales teams in Hong Kong and Singapore, founder and chief executive Dr. Vincent Chow said.
Established in 2013, the company has operating offices in Hong Kong, Singapore and Macau.
It currently has more than 300 customers, including Hong Kong Exchanges and Clearing Limited, Shun Hing Group, Hong Kong Green Building Council, Hong Kong Convention and Exhibition Centre and Fuji Xerox.
En-trak collects, integrates and analyzes energy data, including lighting, water, gas, indoor air quality, electric vehicle charging, as well as solar and wind power generation.
The data, which is stored in the cloud through real-time uploads, enables corporations, schools and governments to manage their resources in buildings.
The company’s smart building operating system allows building operators to have full visibility, analytics and actionable insights into such energy data.
Its smart lighting solutions, unlike other systems offered in the market, can be implemented through module upgrades of existing facilities, without the need for big changes on the circuitry.
In the case of Shun Hing Group, En-trak’s energy management solution has resulted in over 20 percent annual energy savings, or about HK$94,000, for the group.
En-trak won US$1 million in funding as one of the three finalists in Jumpstarter 2017, a startup pitch event in Hong Kong organized by Alibaba Entrepreneurs Fund, Cyberport and Hong Kong Science and Technology Parks Corporation. More than 600 startups worldwide participated in the competition.
This article appeared in the Hong Kong Economic Journal on Aug. 2
Translation by Jonathan Chong
[Chinese version 中文版]
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