Sustainability and wellness-focused private equity house Pegasus Capital Advisors has made a control investment in Swedish internet of things business Yanzi Networks.
Existing Yanzi investor The Sixth National Pension Fund of Sweden (AP6) participated in the financing round and will retain a significant minority-stake in the business.
Yanzi, which specialises in the smart buildings market, said it planned to open a North American headquarters following the deal.
The company’s platform collects data in real-time including occupancy and motion, ambient noise, temperature, light, and air quality.
Yanzi says it has already partnered with industry leaders such as Microsoft, Intel and IBM to craft case studies that show how their software, data and analytics are creating smarter, safer, more cost-effective office spaces.
Pegasus principal Joel Haney said, “We view Yanzi as a cornerstone of our built environment strategy which looks to leverage new technologies to create healthy, energy efficient and sustainable indoor environments.
“With its seasoned and talented management team and innovative, proprietary technology, Yanzi was an ideal addition to our portfolio and a platform through which we can partner with other leading businesses addressing significant inefficiencies in the real estate industry.”
“Yanzi’s secure network helps businesses maximize real estate utilization while improving employee health and productivity simultaneously.”