Tiger Global and Accel back IoT and AI based startup Facilio

Facilities Management startup Facilio has raised a funding of $6.4 million led by Tiger Global Management, LLC and existing investor Accel. Founded in 2017 by Prabhu Ramachandran, Rajavel Subramanian, Yogendra Babu and Krishnamoorthi Rangasamy, Facilio offers real-time facilities management to commercial real estate owners. The Bengaluru-based startup uses IoT and AI to predictively optimise operations and sustainability through facilities optimization software. The market is growing a strong presence across global region like Middle East, US, and India. “Buildings today need agility to adapt to a rapidly transforming landscape. Legacy systems, high upfront costs and long implementation cycles of traditional FM software vendors are bogging down clients with their inflexibility. There is a definitive shift towards embracing an IoT and AI led software system that empowers the built environment with speed and agility to improve efficiencies. We aim to be frontrunners in leading this transformative change in the industry”, said Prabhu Ramachandran, Founder & CEO, Facilio Inc in a statement.