Company Overview
Snapshot
Founded in November 2015 by Iftach Cohen, Ofer Maor, and Daniel Heifetz, Setpoint operated with 11–50 employees. The company secured funding across 12 rounds from 4 investors. In January 2024, Setpoint ceased operations.
Business overview
Setpoint developed a self-learning, plug-and-play climate intelligence platform for commercial buildings. Its proprietary Climate Node Network utilized data-driven AI to provide climate automation in individual rooms while optimizing workload and climate settings throughout the entire building. The platform connected to all heating and cooling end-units, detecting relevant parameters such as temperature, humidity, and occupancy to manage energy-consuming devices for minimal energy costs and maintained comfort. Setpoint served markets including commercial sites, hospitals, and hotels, operating within the Energy Tech sector with a focus on energy consumption and efficiency, green construction, and smart home technologies.
Strategic signal
In October 2023, news reports indicated that Setpoint filed for insolvency, citing that the ongoing conflict in the region made normal company operations impossible. This development signals a significant operational challenge and eventual cessation of activities for the company, highlighting the impact of geopolitical instability on startup viability.
Log in to access full profile ›Company Intelligence Q&A
- What is Setpoint's primary business?
- Setpoint developed a climate intelligence platform for commercial buildings, utilizing AI and a proprietary Climate Node Network to automate climate control and optimize energy consumption.
- When was Setpoint founded and by whom?
- Setpoint was founded in November 2015 by Iftach Cohen, Ofer Maor, and Daniel Heifetz.
- What was the company's operational status as of early 2024?
- Setpoint ceased to operate in January 2024.
- Did Setpoint receive any grants?
- Yes, Setpoint received a grant from The Israeli Ministry of Economy in June 2020. The company also received grants from the BIRD Foundation and NYSERDA in December 2019.
- What was a significant challenge faced by Setpoint in late 2023?
- In October 2023, Setpoint filed for insolvency, with reports indicating that ongoing conflict made normal company operations unfeasible.