Aquicore, a D.C. energy software startup incubated by 1776, just closed a $5 million round of Series A funding.
The round was led by Falls Church-based private-equity firm Kiddar Capital and Silicon Valley venture firm Navitas Capital. The funding will help expand the reach of Aquicore’s cloud-based technology that enables operators of commercial buildings to analyze and curb electricity, water and gas usage in real time.
The technology is essentially a “Fitbit for buildings,” said Cheryl Foil, principal of technology and venture investments at Kiddar, founded by construction and real estate veteran Todd Hitt. The firm, which was part of a funding round for 1776 led by Steve Case in March, focuses on the intersection of smart technology and real estate, and invests about $20 million annually, she said.
Aquicore’s technology is easy to install and building managers can quickly track the impact of energy-saving efforts rather than waiting to see the bill at the end of the month, she added.
“When…
