This report is Memoori's 6th comprehensive evaluation of startups and scaleups in the operations and maintenance phase of the lifecycle of commercial real estate. It highlights venture capital funding, M&A, and strategic investments over the last year.

The information in this report is based on a rigorous analysis of the smart building market and builds on the firm's previous research into Grid-Interactive Buildings, HVAC Optimization, Artificial Intelligence, the Internet of Things, Video Surveillance, and Access Control.

For the purposes of this research the company defines a startup as “a private company formed no earlier than 2013 that is focused on the commercial and industrial buildings market, is not a subsidiary or an acquisition of a larger company, and is generally financed by venture capital or private equity funding.”

Within the report the analysts have identified 1,331 startups founded since 2013 in the management and operations phase of the global smart commercial buildings space. In total 460 have been acquired since 2013, 35% of the total landscape. 74 are closed or inactive, accounting for just 6% of the total.

Around 50% of funding rounds in 2024 related to Building Energy Management (BEM) technology for carbon reduction, energy savings, and the integration of solutions for renewable energy and grid interactivity in buildings.  Furthermore, 60% of this Building Energy Management funding was raised by startups in Europe, nearly double the ratio for North America, which sits at 33%.