Daikin Applied has bought into a Californian software company, Riptide IO, which designs software that helps commercial building owners to connect and manage 'Internet of Things (IoT)' devices in their properties.
Riptide IO already works with Daikin Applied, developing their 'Daikin Intelligent Equipment' cloud-based HVAC control technology. Michael Schwartz, Daikin Applied's president and CEO will join the Riptide IO board.
"We are forging the path to transform the HVAC industry, driving beyond next level efficiency and innovating for total building solutions. This move is a terrific pivot point for us and for the industry as we continue to explore how to help building owners get to new levels of efficiency when they unlock the power of IoT."
The system in development for Daikin Applied will help building owners analyse the data coming from devices in their properties. With the data, the building can be made more comfortable for the people in it and it can be run more efficiently too. The software is aimed at the 'mid-market building automation' market.
Riptide IO believes the investment from Daikin Applied will help them to grow beyond the heating, ventilation and air conditioning sector into the managing the whole building.