Burnsville-based 75F, a startup creating sensors to heat and cool buildings more efficiently, has raised $7.5 million in a planned $15 million round, according to an SEC filing.
The current funds were raised from one investor, the filing states. 75F could not be reached for comment on the round.
Founded in 2012, 75F aims to reduce energy costs in commercial buildings through the use of smart sensors. Through the system, users can control temperatures in different parts of the building and turn off certain areas that are not occupied. 75F's platform also takes into account weather forecasts to determine proper building temperatures.
Special training is not required to install one of 75F's systems. The company claims that its device is so easy to operate that it can be installed by children. It proved this last year when it partnered with STEM educators at Cypruss Classical Academy in Burnsville to have grade-school students install the 75F system at their school.
The company has a handful of notable customers such as St. Louis Park-based Magnet360 and New Hope-based Border Foods, one of the nation's leading Taco Bell franchise owners. Other companies with 75F systems include WeWork, HOM Furniture, Hewlett Packard and Shell.
75F also does a lot of business in India. There, the company's systems can be found at the offices of e-commerce business Flipkart, The Times of India newspaper, Mercedes-Benz and more.
75F won the Minnesota Cup, the state's largest startup competition, in 2014. Shortly after, the company secured $100,000 from Revolution's Rise of the Rest Seed Fund. Local firm Gopher Angels has also participated in past founding rounds.
Prior to this round, 75F had raised just under $3 million, according to Crunchbase.
