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Parity raises Series A round

Startup focuses on reducing amount of electricity and gas used by buildings.

(Credit: Parity Go Inc)

Energy management startup Parity Go Inc has raised $5 Million (CAD) in a Series A round led by ArcTern Ventures, the company announced in a press release.

What they do: The clean-tech startup optimizes existing HVAC equipment in multi-family properties to reduce the amount of electricity and gas consumed. Because they use existing mechanical equipment, there are no major capital investments required to replace equipment.

Primer: “Cleantech” refers to technology that increases performance and efficiency by minimizing negative effects on the environment. This includes technologies relating to recycling, renewable energy, and electric motors.

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