Tether secures $1.5m to expand tech operations globally
Tether has successfully secured GBP $1.5 million in a funding round facilitated by Snowball Effect. This funding will enable the company to extend its operations to Australia, the UK, and Europe. Tether is poised to deploy its 10,000th sensor in buildings across New Zealand, marking a significant milestone in its growth.
The company is currently providing real-time monitoring solutions for prominent brands including Westpac, Douglas Pharmaceuticals, BRANZ, and Kainga Ora.
Brandon Van Blerk, Founder and CEO of Tether, emphasised the importance of integrating various building performance technologies into a single platform.
"To date, creating a unified view of a building's performance has involved multiple different technologies including occupancy sensing, air and water quality monitoring, and smart meters for electrical consumption; with none of these technologies integrating into a cohesive and interconnected platform," he said.
"Without this understanding, it's simply impossible to gauge where you're at or to aim for improvement."
Founded in 2017, Tether distinguishes itself by offering a comprehensive platform that consolidates various functionalities.
The sensors, locally manufactured in New Zealand, are designed to be as user-friendly as a smoke alarm, providing instant insights and predictive maintenance reports. These include performance benchmarks and actions that optimise heating, cooling, and lighting systems to reduce costs. Additionally, Tether's sensors proactively monitor air quality and indoor environmental conditions to ensure occupant health.
Unlike other systems that monitor a single source of data, Tether's devices are self-powered through energy harvesting and do not require a Wi-Fi connection. These devices communicate in real-time with a cloud-based analytics platform.
"Tether's integration and analysis of multiple datasets act as a facilities team coach. This takes the guesswork out of optimising a building's systems so that what a team envisioned for its performance is easier to achieve," said Van Blerk.
Building on its success in New Zealand, Tether is expanding through a partnership with Ricoh and their workplace experience platform, RICOH Spaces. This integration will allow Tether to expand its footprint in Australia, the UK, and Europe. RICOH Spaces digitises various office functions such as space booking, visitor management, and wayfinding, providing insights into space utilisation. Tether's integration into RICOH Spaces will offer advanced functionalities, enhancing the experience of building occupants.
"We believe the future of work will be driven by data. Not only will people want to book meeting rooms online; but they'll also want to know that the air quality in those rooms is sufficient for being as productive as possible," he added.
"Team leaders won't only want to know how many people come into work each day but also which areas of the office aren't being utilised efficiently or are overcrowded. Together, Tether and Ricoh will provide an interactive building management system that is as engaging as it is effective."
This partnership will expand Tether's sales capabilities across EMEA and APAC regions, significantly increasing its market presence with additional offices. Van Blerk also highlighted how Tether's technology can assist in corporate reporting of environmental impact.
The system can predict a building's performance based on NABERS, an independent energy efficiency rating tool for office buildings, and simplify Scope 2 and 3 emissions reporting by providing real-time data on energy consumption.
"Our funding round and expansion into new markets signify more than just growth; they represent our commitment to driving a more sustainable, data-driven future of work," Van Blerk said.
"By leveraging real-time data, Tether empowers organisations to significantly reduce their carbon footprint and enhance workplace health. We're pioneering a future where buildings not only meet but exceed their performance goals."
