Cynaps Secures 300 Million Yen in Series B Funding to Enhance BA CLOUD IoT System
Cynaps Secures Funding to Advance BA CLOUD Technology
Cynaps Inc., headquartered in Sumida, Tokyo, is making waves in the IoT field with its innovative project, BA CLOUD, a system designed to significantly reduce air conditioning energy consumption. Recently, the company has successfully raised a total of 300 million yen in a Series B funding round, led by Environmental Energy Investment Co., Ltd. and Suzuki & Company, Ltd. This funding brings their cumulative financing to approximately 590 million yen, which will support the accelerated development of their IoT building automation system.
Addressing Global Energy Challenges
According to the International Energy Agency (IEA), the number of air conditioning units is expected to triple by 2050, with air conditioning alone responsible for a staggering 40% of the projected increase in global energy consumption in buildings. With this alarming forecast, Cynaps aims to confront the impending energy crisis by focusing on the previously overlooked issue of
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