Paris and London-based tech-enabled lift maintenance company WeMaintain announced on Tuesday that it has raised $36 million in a Series B fundraise.

Key investors participating in the round include Red River West, Eurazeo, BPIFrance Digital Venture (part of France’s sovereign wealth fund), and Swiss Immo Lab, the company said in a statement.

“This raise is a step towards our global expansion, with Singapore being a foundational component of our business development plans in Asia-Pacific,” said Benoît Dupont, Co-Founder and Chief Executive Officer of WeMaintain.

WeMaintain’s latest fundraise furthers the company’s ambition to manage all critical elements of
a building and power smart cities with its proprietary technology.

This new round of funding will allow WeMaintain to invest in IoT research and development as well as create solutions for all regulated building operations, becoming the leading global player in the smart building sector. This latest round of funding follows historical backing from Eurazeo and Raise Ventures.

Following the fundraise, WeMaintain also announced the opening of its Asia-Pacific headquarters in Singapore.

The WeMaintain Singapore team will be responsible for the business development and growth of WeMaintain’s operations in Asia-Pacific. After Singapore, WeMaintain will aim to expand into other markets in Asia-Pacific–such as Hong Kong, Seoul, Sydney, Tokyo–and North America, the company said in a statement.

Prior to the announcement, WeMaintain said it has already won a public tender with the Singapore Housing & Development Board.

Founded in late 2017, WeMaintain is a French PropTech startup that provides IoT solutions for critical building operations, providing building managers with live data, smart maintenance, and next-generation customer experience.

WeMaintain began with lift maintenance and has recently expanded into fire safety following the acquisition of Shokly. WeMaintain supports a wide range of clients in both the residential and office markets and has won major contracts with clients such as Allianz Real Estate, WeWork, in the Paris region, and the DLR in London.

Since its launch, the company has raised ~$46.23 million (38.8 million Euro) from Eurazeo, Red River West and BPIFrance Digital Venture. The WeMaintain team, based in Paris, London, and Singapore, currently comprises 82 people.