BrainBox AI secured $12M in Funding round led by Esplanade Ventures

BrainBox AI, a Canada based autonomous building technology maker, has now secured $12 million in the funding round.

BrainBox AI was founded by Sean Neely and Jean Simon. It offers technology combining deep learning, autonomous decision making, and cloud-based computing to support a 24/7 self-operating building.  The company solution helps the Heating, Ventilation, and AC system in the building to operate autonomously in a real-time scenario, generating a reduction in total energy costs.

Executive Opinion

Chief Business Development Officer at BrainBox AI, Sam Ramadori, said, "BrainBox AI’s truly autonomous solution is re-defining how we manage energy in buildings thanks to cutting-edge artificial intelligence technology. As a company, we are driven by the opportunity to tackle climate change, one of the world’s critical challenges, and are excited to be working with investors who share the same vision."

Managing Director of lead investor Esplanade Ventures, Jeffrey Kadanoff, said, "We are excited to be a part of the team bringing BrainBox AI’s energy-saving solutions to market. The building operators we spoke with were thrilled with the significant cost savings, which required no capex and minimal disruption to achieve."

BrainBox AI's Latest Funding

The round was backed by the Esplanade Ventures with participation from Desjardins Capital.

The company, as of now, has plans to use the funds to deploy its AI technology for buildings across North America and other regions.

BrainBox AI has an employee size of 50 people and supports real estate customers in various sectors, which includes airports, multi-residential, office buildings, grocery stress, commercial retails, and others.