Israeli energy efficiency co enVerid raising NIS 80m

Azrieli Towers, photo: Thinkstock

Leumi Partners is leading the financing round in the HVAC systems company, which offers energy savings for commercial buildings.

Israeli startup enVerid Systems is raising NIS 80-90 million in a financing round led by Bank Leumi (TASE: LUMI). The Israeli bank's investment unit Leumi Partners has invested NIS 37 million in enVerid Systems in return for 17% of its shares.

The company, which was founded in 2011 by Dr. Udi Meirav and Dr. Israel Biran has developed specialized HVAC systems which offer energy savings and improved air quality for commercial buildings.

enVerid Systems has a strategic agreement with the HVAC division of Johnson Controls, one of the largest automotive parts and HVAC companies in the US - with a market cap of $24.4 billion. The agreement will help enVerid deploy its systems on a larger scale in the US. The company is exploring entering the Asian markets. Among its owners are Tadiran, which installs enVerid systems in Israel.

“We are pleased to invest in enVerid and help lead its current round of funding, which will allow it to significantly expand its operations,” said Leumi Partners CEO Yaron Bloch. “For Leumi Partners, this is an investment in a unique and promising tech company, which specializes in creating advanced ecological systems. This investment adds to our diversified portfolio and integrates with our strategic investments.”

Published by Globes [online], Israel business news - - on March 17, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Azrieli Towers, photo: Thinkstock
Azrieli Towers, photo: Thinkstock
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