BrainBox AI raises 24M USD in first close of its Series A funding round to fuel continued global expansion and innovation

Montreal (ots/PRNewswire) - Growing tech leader is redefining building
automation and developing scalable technologies to address the energy transition
challenge and mounting public concern over global greenhouse gas (GHG) emissions

BrainBox AI (https://c212.net/c/link/?t=0&l=en&o=3338726-3&h=2313045902&u=https%
3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D2788167-1%26h%3D1098876772
%26u%3Dhttp%253A%252F%252Fwww.brainboxai.com%252F%26a%3DBrainBox%2BAI&a=BrainBox
+AI) , a leader in autonomous building technology, today announced a $24M raise
to further deploy its AI technology in the built environment and develop its
next phase of innovation. The first close of its Series A round includes new
lead investor, https://c212.net/c/link/?t=0&l=en&o=3338726-3&h=3948309312&u=http
s%3A%2F%2Fglobal.abb%2Fgroup%2Fen&a=ABB , and investments by Esplanade Ventures
(https://c212.net/c/link/?t=0&l=en&o=3338726-3&h=1493274209&u=https%3A%2F%2Fespl
anadeventures.com%2F&a=Esplanade+Ventures) and Desjardins Capital (https://c212.
net/c/link/?t=0&l=en&o=3338726-3&h=4020713539&u=https%3A%2F%2Fc212.net%2Fc%2Flin
k%2F%3Ft%3D0%26l%3Den%26o%3D2788167-1%26h%3D2088881567%26u%3Dhttps%253A%252F%252
Fwww.desjardins.com%252Fca%252Fbusiness%252Ffinancing-credit%252Finvestment-capi
tal%252Findex.jsp%26a%3DDesjardins%2BCapital&a=Desjardins+Capital) .

BrainBox AI offers predictive and self-adaptive artificial intelligence to
optimize buildings' energy usage, carbon footprint, and operational efficiency.
To date, BrainBox AI has transformed over 100 million ft2 of building space
across five continents by providing real estate asset owners with a scalable and
impactful tool to achieve their aggressive net-zero objectives. The technology
is installed in both developed and developing nations, addressing the equity,
accessibility, and affordability challenges the world faces in its fight against
climate change.

The company's next phase of innovation harnesses the power of BrainBox AI's core
technology to tackle the energy transition by creating energy demand flexibility
within building clusters. Globally, the energy sector is undergoing a major
transition spurred by the decreasing cost of renewable power generation. With
these new intermittent sources of power comes the need for more flexible energy
grids. BrainBox AI's autonomous AI 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.