Autonomous building technology firm BrainBox AI has closed its Series A funding round, securing US$24m (£17.4m), which will be used to further develop its AI technology for the built environment.
BrainBox AI offers predictive and self-adaptive AI to optimise buildings’ energy usage, carbon footprint, and operational efficiency. The AI-powered solution has, to date, been installed in over 100 million ft2 of building space across five continents.
The company’s next phase of development harnesses the power of BrainBox AI’s core technology to tackle the energy transition by creating energy demand flexibility within building clusters.
BrainBox AI’s autonomous technology will allow buildings, working interactively, to be a part of the solution by providing energy and capacity back to the grid, contributing to cleaner and more efficient consumption.
“With buildings producing 28% of the world’s total carbon emissions, it is more critical than ever to bring scalable clean technology to our cities,” said Sam Ramadori, president of BrainBox AI.
“Overlaying autonomous artificial intelligence on existing infrastructure in the built environment is not only a rapid and impactful means to energy efficiency, but also a crucial step towards future grid-interactive buildings.
“We are excited to be working with investors who share our vision and understand how industry-changing AI energy solutions can support our goal of 100% renewable power for the planet.”
This latest funding round includes new lead investor ABB, as well as investments from Esplanade Ventures and Desjardins Capital.
Oliver Iltisberger, president of ABB’s Smart Buildings division, added: “Our core focus is bringing radical change to new and existing buildings with safe, secure, smart and sustainable solutions.
“I am confident that ABB’s investment in BrainBox AI, combined with our ABB Ability Building Ecosystem, will help us leapfrog current approaches to digital transformation, further reduce energy costs and play our part in addressing climate change.”
