Smart windows will save building owners plenty—at least that’s the bet investors in View are making.
The company makes what it calls “dynamic windows” that use a low-voltage electrical current to reflect or absorb light, and to tint or un-tint a window when the current is turned on. Combined with the company’s app, a customer can use an iPhone or a control panel to control and program the windows.
The Company completed a $US150 million round of financing, that included $US75 million from a pension fund set up by New Zealand’s government.
Other investors in View’s latest round included Madrone Capital Partners—a fund associated with the Walton family, undisclosed real estate investors, and glass maker Corning.
Previous funding has derived from venture capitalists Khosla Ventures, DBL Investors, and the Westly Group as well as conglomerate GE.
View has raised $US 500 million since startup in 2007.
Other than the aesthetics, window tinting can cool and warm buildings which, the company claims, can cut heating, cooling and lighting costs by 20 percent.
View has some 100 installations under its belt, with another 100 in the pipeline, and doubling in volume since early 2014. The company has a factory in Mississippi that can produce up to 5 million square feet of glass annually.
Its largest scale project to date is the CenturyLink Technology Center in Louisiana, where 37,000 square feet of View glass is being installed. Sales efforts are concentrated in the U.S. and Canadian markets.
“Every View window has an IP address and controllable through the Internet,” said View CEO Rao Mulpuri. “Everything is at your fingertips and then it can tie a number of other things together. The windows can now talk to the lighting and HVAC system, and on a more global level it could connect to the future smart city and smart grid.”