Former Apple and Cisco engineers are 'sneaking' cheaper, energy-saving tech into buildings. See the pitch deck they used to raise $4 million.
Smart-building tech promises to save energy, but adoption is slowed by high costs.Domatic's founders walked Insider through the pitch deck they used to raise seed capital.His accomplishments include working on an early iteration of Apple's FireWire cable, a precursor to the modern USB cable that transmits both data and power. He also served as CTO of Microsoft's television department and was a vice president of Intel's digital home group.
Frustrated, Baldwin rang up a friend at Nest. He wanted to fix the product's limitations, but alas, it wasn't his job.Instead, in this universe, he met Gladys Wong, a career chip and hardware engineer who had stints at Cisco, Qualcomm, and Marvell Technologies. Wong and Baldwin tackled two problems preventing the adoption of smart building technology: it's too expensive and difficult to roll out in scale. Smart tech, which often requires wiring separate power and data cables to devices that then connect to a central control roomcan add 30% to the cost of electrical installations, Baldwin said. Most contractors don't even have the skills to do it, he added.
"This is sneaking the smart system into the building" through the wiring, Baldwin said."It's more energy efficient and leads to a better building for less effort and less cost."
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