Montréal-based HVAC tech company BrainBox AI has announced the close of its Series A financing round, securing $30 million overall.
This close adds $6 million to the Series A round, which had an initial close in October. When it raised the $24 million, BrainBox said at the time that it was working to raise a “top-up” within six to eight weeks from additional investors on the same terms and valuation as its first Series A close.
BrainBox noted that the recent additional capital includes a $3.5 million investment from Export Development Canada. It is unclear where the remaining $2.5 million come from and BetaKit has reached out to BrainBox to clarify.
BrainBox, the final close of its Series A round will be used to further expand its global footprint.
Company: BrainBox AI Inc.
Raised: $6.0M
Round: Series A
Funding Month: July 2022
Lead Investors: Export Development Canada
Additional Investors: Undisclosed
Company Website: https://brainboxai.com/en
Software Category: Building Automation and Pioneering grid-interactive buildings
About the Company Founded in 2017, BrainBox AI is redefining building automation and pioneering grid-interactive buildings through artificial intelligence to address the energy transition challenge. Headquartered in Montreal, a global AI hub, BrainBox AI has a workforce of over 125 employees and supports real estate clients in numerous sectors, including office buildings, airports, hotels, multi-residential, long-term care facilities, grocery stores, and commercial retail. BrainBox AI works in collaboration with research partners including the US Department of Energy's National Renewable Energy Laboratory (NREL), the Institute for Data Valorization (IVADO) as well as educational institutions including Montreal's École de Technologie supérieure (ETS) and McGill University.
Source: https://betakit.com/brainbox-ais-series-a-round-reaches-30-million-following-edc-top-up/
https://brainboxai.com/en/articles/brainbox-ai-closes-series-a-fundraise-at-30m-usd-with-support-from-export-development-canada-fueling-international-growth-for-ground-breaking-ai-technology