Proptech Firm Wynd Raises $10M To Expand Air Quality Tools To Commercial Buildings
The coronavirus pandemic has turned air quality into a top-priority issue for building owners, and a proptech company that makes products to monitor and purify the air has capitalized with a new funding round.
Wynd, a Redwood, California-based company founded in 2014, has raised a $10M, Series A funding round led by DBL Partners and Greensoil PropTech Ventures.
The company has a series of air quality management systems, including sensors that monitor the air for pollutants and purifiers that improve the quality of the air around them. Some of its products are portable and can be placed on everyday surfaces like dinner tables or office desks, creating zones of clean air in the immediate vicinity.
Wynd also has a patent-pending product that uses machine learning technology to identify types of pollutants, such as smog or pollen, at the root level. And it is collecting data with its products to create maps of pollutant hot spots.
After raising $2M through crowdfunding, Wynd launched its first product in May 2017. From then through June 2021, it said it has sold 45,000 products, largely to individual consumers. Demand for its products has accelerated throughout the pandemic, with its Q2 sales coming in three times higher than the same quarter last year, a Wynd spokesperson said.
It now plans to use its $10M funding round to expand its enterprise-grade product line and sell to commercial buildings. The company said its technology can be integrated into large-scale HVAC systems.
"Wynd’s indoor air quality platform offers affordable and effective monitoring and purification solutions for mass use among consumers and companies," Wynd co-founder and CEO Raymond Wu said in a release. "This new funding from DBL and Greensoil allows Wynd to continue to scale our market-leading technology into commercial and residential built environments."
DBL Partners founder Nancy Pfund and Greensoil Proptech Ventures Managing Partner Dave Harris Kolada are joining Wynd's board of directors along with the investments. Greensoil in March closed a $100M fund aimed at investing in sustainability-focused proptech, part of a growing wave of venture capital firms investing in that sector.
“Wynd’s integrated, easy to implement enterprise solutions, high-grade filtration, cloud-based analytics and ability to help HVAC systems operate in more efficient, sustainable ways make it an ideal addition to the GSPV portfolio,” Kolada said in a release.