View, a creator of smart windows and glass, raises $150M

The company has completed more than 100 project installations, and has 100 more in the pipeline

I've been amazed how, in a relatively short amount of time, how environmentally conscious we all seem to have become. Maybe it has more to do with our wallets than anything else, since this stuff does save us money, but the number of people who really care about saving the world gives me some hope for our future. It would be nice if everyone felt that way, but its a good start.

That kind of attitude has allowed companies like View to thrive. It is the creator of smart windows and dynamic glass, which can automatically adjust its tint based on weather conditions in order to reduce energy bills.

The company has just raised $150 million in new funding, it was announced on Thursday. Investors in this round included new investor NZ Super Fund, existing investors Corning Incorporated, Madrone Capital Partners and others, and leading real estate investors.

With the addition of this latest round, View has raised more than $500 million in equity investment to date, including a $100 million round in January of last year The full list of View investors includes General Electric, Sigma Partners, DBL Investors, Industrial Investors, Khosla Ventures, NanoDimension, Navitas Capital  and The Westly Group.

Founded in 2007, and based in Milpitas, California, View is the creator of Dynamic Glass, which intelligently regulates the amount of heat and glare that enters a building. The glass can transition through four variable tints, in order to provide continuous unobstructed views without heat or glare.

There are two ways the glass can be adjusted: it can automatically adapt to changing external conditions or be controlled by a user to meet specific preferences.

This eliminating the need for blinds or shades, allowing users to always have unobstructed views. But there is more to it than just giving people a better view; it also significantly reduces energy usage. Solar radiation and glare are reduced when the glass is tinted, creating a comfortable indoor climate for occupants. By admitting natural daylight and rejecting unwanted solar glare, View Dynamic Glass significantly reduces annual energy costs. 

In a typical dynamic glass commercial installation, annual HVAC and lighting energy consumption is reduced by 20%, while HVAC peak load is reduced by 25%.

"If installed in a new build, the size of HVAC systems can often be reduced to match this savings, which is another place they can save upfront," Brett Murray, VP of Marketing at View, told me. "Ultimately, there is a range of when customers see ROI. Some see cost breakeven on day one due to offsets and energy savings, others can take longer. Each project is unique."

The new funding will be used to continue product development, advance the growth of the company's manufacturing capabilities, as well as accelerate its sales, distribution and marketing efforts.

View Dynamic Glass is already being used in more than 100 installations across North America, with an additional 100 underway in various commercial markets, including corporate offices, healthcare, government, higher education and hospitality. Earlier this year, it announced the largest dynamic glass installation to date at CenturyLink’s new technology center in Louisiana. 

"More and more, we are seeing companies investing in their people placing an emphasis on health, well-being and productivity. View complements that effort in a very tangible way, and we have seen that trend play a large role in adoption over the past couple of years," Murray said.

(Image source: viewglass.com/product)