Smarten Spaces, a Singapore Headquartered company, today announced the close of a $12M Series A investment round. The new investment was made by leading Asia investor Symphony International Holdings Limited (Symphony).
The Smarten Spaces platform is quite unique in the industry as it looks to fill the gap with a one-stop solution for space owners and managers to digitize and manage their space. The company believes that the goal of smart building technology is not necessarily to add sophistication but to identify and systematically eliminate the inefficiencies within the experience and workflows currently in place.
Since its launch back in 2017, Smarten Spaces has developed one of the world's first end-to-end AI platform to disrupt a $19.9 billion smart space industry with the current focus on enterprise offices, real estate developers, coworking, co-living and other spaces of work and leisure. The platform enables space owners to offer next-generation spaces that will improve productivity, reduce operational costs and offer conveniences to the end-users.
Anil Thadani, Chairman, Symphony International Holdings Limited said, "This is our first investment in a SaaS company and we are looking forward to working with Dinesh and his team to grow the business, especially in the Real Estate and Hospitality industries where we have deep connections and significant investment experience."
Dinesh Malkani, Founder & CEO, commenting on this important milestone in Smarten Spaces journey said, "We are delighted to have Symphony for our Series A investment. Their long-term view and portfolio of investments in real estate and consumer brands provide many synergistic opportunities as we expand Smarten Spaces across the Asia Pacific and North America within the rapidly growing Proptech industry." Malkani added, "Our platform today provides the capability to provide intuitive user experience and optimize spaces. This lets us build the improved value of built spaces and long-term business relationships."