EG’s technology hub, EGX, recently expanded its portfolio with a fourth proptech, Avani (formerly IBMS).
EG’s newly-launched technology incubator, EGX, is expanding. A fourth proptech has been added to the portfolio after the purchase of a majority stake in Australian building technology platform IBMS by EG.
IBMS offers a market-leading integrated systems platform, which empowers building managers, fund managers and property owners with real-time building performance data. This data ecosystem can be used to change unsustainable and costly behaviour and track immediate achievements.
“With an ever-increasing industry demand for connectivity, unsustainable buildings are starting to become functionally obsolete earlier, losing value and impaired liquidity”, said IBMS Co-Founder, Paul Dearlove. “IBMS’ tech-agnostic software has demonstrated how to solve this problem through reliable connections to any digital device or system within new and existing buildings.”
“EGX is thrilled to back another ‘tiny giant’”, said Sangeeta Venkatesan, Executive Director, EGX. “IBMS aligns with our goal of creating a positive impact for our investors and our global community.”
IBMS is the fourth proptech in the EGX portfolio, complementing EG’s vision for a sustainable built environment. EGX is lifting the game by investing in the brightest minds and scaling seemingly impossible ideas into high-performing businesses and returns for investors.
To find out more about EGX and our other portfolio companies, visit eg.com.au/egx