Smart window glassmaker
, View, has raised $100 million in a Series G investment round led by TIAA Investments
, an affiliate of financial services company Nuveen
. View states that it will use these funds to expand its manufacturing capacity and will scale up operations for meeting rapidly growing demand.
The smart-window maker claims to be working on the development of energy-saving smart windows based on electrochromism that can control light and heat while maintaining and reducing glare. Unlike traditional glass, Dynamic Glass tints automatically in response to outdoor conditions or from a mobile device, providing greater occupant comfort and energy savings without compromising the view.
“We are experiencing high demand for Dynamic Glass and are pleased to double our momentum with the support of new and existing partners,” said Rao Mulpuri, CEO, View.
“We are particularly thrilled to have the support of one of the world’s largest asset managers as we seek to accelerate the adoption of Dynamic Glass in the commercial real estate market. This financing enables us to meet the increasing demand for View Dynamic Glass and execute on our ambitious growth strategy,” he added.
With this funding, the Director of TIAA Investments, Rekha Unnithan has joined the Board of Directors at View. Unnithan has spent more than 10 years at several financial services organizations, including US Trust
, Bank of America
and Merrill Lynch
“This impact investment aligns with our ongoing strategy to invest responsibly and unlock attractive financial opportunities on behalf of our clients,” said Unnithan.
“We seek compelling long-term opportunities for our impact investment portfolio. Innovations that enhance occupant experience and deliver positive environmental outcomes by using state of the art green building technologies are a great fit with our mission,” she added.
Previously, View has raised $150 million a Series F round led by The New Zealand Super Fund
in which the existing investors Corning
and Madrone Capital Partners also invested.