BrainBox AI, a Montreal, Canada-based company provider of autonomous building technology, announced the close of its fundraising round at $30 million, furthering its mission of delivering scalable AI-driven solutions to decarbonize the built environment.
This fundraising round included the participation of ABB, the Quebec Government, and concludes with a $10 million investment from a leading European global insurance and asset management provider.
Sam Ramadori, Chief Executive Officer at BrainBox AI commented, “We are moved by the level of participation and support from our partners who believe in the importance of the work that we do. Impactful investments like those of our new European partner are crucial to the longevity of innovators like BrainBox AI and we are excited to welcome them to our investor group. This $30 Million fundraise will enable us to increase the scope and global scalability of our technology for the betterment of our planet.”
Since BrainBox AI’s launch in 2019, its artificial intelligence technology for the built environment has been installed in over 700 commercial buildings, across 20 countries worldwide. This year, the company launched its autonomous decarbonization solution that directly addresses the 38% of global greenhouse gases (GHG) emitted annually from buildings.
Company: BrainBox AI, Inc.
Raised: $10.0M
Round: Unknown
Funding Month: July 2023
Lead Investors: Undisclosed
Additional Investors:
Company Website: https://brainboxai.com/
Software Category: Autonomous Building Technology
About the Company: Founded in 2017, BrainBox is a provider of autonomous building technology that utilizes self-adapted AI technology to optimize the energy consumption of one of the largest climate change contributors: Buildings. BrainBox AI uses deep learning, cloud-based computing, algorithms and a proprietary process to support a 24/7 self-operating building that requires no human intervention and enables maximum energy efficiency. As innovators of the global energy transition, BrainBox AI’s game-changing HVAC technology leverages autonomous AI to make buildings smarter, greener, and more efficient. BrainBox AI supports real estate clients in various sectors, including office buildings, hotels, commercial retail, grocery stores, airports, and more.
Source: https://brainboxai.com/en/articles/10-million-investment-from-a-leading-european-insurance-group