Deals 26th June

Deals round-up | WeWork, JLL Spark, Meero, Trax

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Nicola Byrne

Software Motor Company, SMC, has raised $31m from a consortium of strategic investors, including JLL Spark and Meson Capital.

The patented SMC Smart Motor System only uses energy when it is needed, thereby reducing space conditioning and refrigeration energy costs. A fully programmable Internet of Things controls package facilitates maintenance savings and integration with existing building systems.

SMC’s vision is to transform the HVAC industry and reduce global electricity consumption by 25%. JLL will be working with SMC to deploy the technology across the JLL portfolio, with hopes to reduce the firm’s global energy footprint.

Yishai Lerner, Co-CEO at JLL Spark said after two pilots at JLL buildings, SMC was able to “immediately demonstrate its ability to lower operating costs” with “attractive ROI timelines.”


On-demand photography platform Meero has raised $230m in its latest funding round led by Eurazeo Growth and Prime Ventures.

Paris-based Meero uses Artificial Intelligence algorithms to automate the editing of images, reducing the processing time of images to a few seconds compared to the several hours it may take for humans.

The startup currently focuses on a few industries including real estate for listings, retail and e-commerce. Meero plans to offer its photography services previously reserved to professionals to individual clients.

Thomas Rebaud Ceo Of Meero

Thomas Rebaud, co-founder and CEO of Meero


WeWork has added to its acquisition spree with building access control startup, Waltz.

Waltz has developed a mobile app and reader to enable employees and guests to securely enter buildings and offices. Through this deal, Waltz will become completely integrated within WeWork and will continue to maintain its current customer base.

The coworking firm appears to be hoovering up companies this year, acquiring cleaning startup Managed by Q in April, and spatial analytics firm Euclid in February.

Wework And Waltz


Singapore-based Trax, which aims to digitise the physical world of retail through the use of cameras and analytics, has acquired Shopkick, the shopping rewards app in the US.

Shopkick allows brands and retailers to engage with consumers before they shop and continues with them in the store and on their phone.

Ranked in the top 25 fastest growing companies on Deloitte’s Technology Fast 500 list, Trax monitors shelves and stores in real-time to see what works and what doesn’t in order to unlock further revenue opportunities.

This latest announcement follows a flurry of investment including the firm’s merger with China’s retail AI and Big Data service company, LenzTech.

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