On heels of successful Series B and follow-on investment by Brookfield, PassiveLogic secures investment from NVIDIA
SALT LAKE CITY, Sept. 20, 2022 /PRNewswire/ -- PassiveLogic (passivelogic.com), creator of the first platform for generative autonomy, is announcing an investment from NVentures, NVIDIA's venture investment arm. PassiveLogic adds NVIDIA to its broad coalition of backers, which includes building-asset owners, equipment manufacturers, and venture investors such as Addition, Brookfield, Keyframe, RET, Era, and A/O Proptech. To date, the company has raised more than $80 million.
PassiveLogic's mission is to revolutionize the way we design, install, and operate controlled systems and the built environment. The PassiveLogic autonomous platform software enables architects, engineers, contractors, and building owners to automate systems in a fraction of the time of previous solutions, while bringing on-premises intelligence to buildings to meet operational requirements and growing Environmental, Social and Governance (ESG) goals of asset owners.
PassiveLogic's products are built on a ground-breaking technology stack for differentiable computing, using the Quantum digital twin standard, that enables users to quickly compose neural networks, without prerequisite training. PassiveLogic's AI framework unifies system code, training, and inferencing into a single paradigm, solving models orders of magnitude faster than industry benchmarks like TensorFlow. The company's compiler technology is being open sourced into Apple's Swift compiler toolchain.
Troy Harvey, CEO of PassiveLogic and architect of the Quantum standard, framed the milestone this way: "To solve complex, compute-intensive problems like autonomous systems we created the first 'industrial-grade AI' platform, that takes us beyond research-centric deep learning, enabling compile-time, type checked, heterogeneous models that we can deliver into the hands of regular people."
PassiveLogic is leading the building controls industry with practical solutions that democratize automation. For example, the company's Hive control platform is 10 times faster to install than conventional automation solutions. The Hive — a "brain for buildings" — unites sensors, IoT, and controllable equipment with an edge-based autonomy engine built on the Quantum digital twin standard. The entire platform is built on Quantum digital twins from the ground up. The company runs its advanced technology on the NVIDIA Jetson edge AI and robotics platform and is a member of NVIDIA Inception, a program that nurtures startups.
Mohamed "Sid" Siddeek, head of NVIDIA's NVentures team, commented, "PassiveLogic has a vision to revolutionize the real estate industry through autonomous operations at the edge. They have a world-class team with deep industry and technical expertise that's preparing to launch a highly differentiated solution with their initial customers."
To fuel its leadership in the autonomous system technology space, PassiveLogic plans to collaborate with NVIDIA on digital twins, GPUs, and compiler technology. Harvey stated, "Buildings use 41% of the world's energy. To make these buildings more efficient, we built a technology stack that generalizes autonomous control, making it usable for the folks applying these technologies every day."
PassiveLogic CEO Troy Harvey will participate in a panel at NVIDIA ' s GTC technology conference on September 21 at 9:00 a.m. PDT. All are invited to register for the online virtual event at the following link:
PassiveLogic is changing the future of the built environment by powering autonomous systems and providing the foundation for smart buildings. They have reimagined how we design, build, operate, maintain, and manage our buildings using revolutionary "deep physics" digital twins, and AI-enabled future-forward controls, and made this technology accessible to all kinds of buildings, big and small, new construction and retrofits. In a world increasingly impacted by climate change, PassiveLogic has developed a way to save one-third of building energy consumption by making buildings truly intelligent.
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