- BrainBox AI held its first Series A close last October
- The company was founded in 2017
- Most recently, BrainBox AI inked a partnership with SAIL Outdoors, a Canadian outdoor equipment retailer
Montreal-based autonomous building technology startup BrainBox AI has closed its $30 million Series A financing with a $3.5 million investment from Export Development Canada.
ABB led the Series A round’s first close last October. The other investors were Esplanade Ventures and Desjardins Capital.
Since BrainBox AI’s launch in 2019, its artificial intelligence technology for the built environment has been installed in over 100 million square feet of commercial building space, in 70 cities and over 20 countries worldwide. Just this year, BrainBox AI has been installed in over 180 new buildings and 5 additional countries, with expansion into major cities around the world, including New York City and Milan.
Most recently, BrainBox AI announced its partnership with SAIL Outdoors, a leading Canadian outdoor equipment retailer, to deploy its new AI-driven smart thermostat for multi-site retail offering across its entire nation-wide portfolio.
“With the official close of our Series A fundraise, we’re thrilled to be working with investors that share our vision of providing a meaningful solution to decrease countries’ reliance on natural gas,” said Sam Ramadori, CEO of BrainBox AI, in a statement. “This raise will go towards technological development and fueling our international growth, especially in Europe, a region that is actively looking for technologies to aide in its clean energy transition. As the energy industry continues to change, we are constantly innovating in order to provide the required demand flexibility via AI-enabled grid interactive buildings.”
BrainBox AI was founded in 2017.