BrainBox AI announces $10 million investment
BrainBox AI announced the close of its fundraising round at $30 million, furthering its mission of delivering scalable AI-driven solutions to decarbonise 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.
By investing in BrainBox AI, this organisation is continuing to execute its mission to stimulate and accelerate the adoption of cutting-edge innovations that have a positive impact on the challenges our world faces. Its support is a direct illustration of its desire to find and invest in solutions, like BrainBox AI, that are pivotal to saving the planet from climate change.
Sam Ramadori, Chief Executive Officer at BrainBox AI comments: “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 decarbonisation solution that directly addresses the 38% of global greenhouse gases (GHG) emitted annually from buildings. Its industry defining technology uses deep learning, Cloud computing and custom algorithms to empower building owners to drastically reduce their scope 1 and 2 emissions by up to 40%, while decreasing heating and cooling energy costs by up to 25%. Support from this European insurance group further validates the need for low CAPEX, high impact decarbonisation and energy efficient solutions like BrainBox AI’s.