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CAD10,000.00(Negotiable)

Tech Startup BrainBox AI Raises $12M CAD For Expansion Techugo

  • Tech Startup BrainBox AI Raises $12M CAD For Expansion Techugo
Description
Price : CAD10,000.00(Negotiable)
Date : May 15, 2020
Location : 139 Baroness Drive Nepean ON K2G 6Z2

Recently BrainBox AI a Canada-based autonomous building technology raised a total of $12 million CAD funding. Let’s know more about it & understand the processing.

Montreal-based BrainBox AI owns the technology that allows automation of any sort of building’s heating, ventilation, and air conditioning system. In a pre-series, A round the company was able to bag a total of $12 million CAD. Pre-series A is not a common term we use for funding rounds but can be easily raised between Series A and seed. This sort of funding usually comes into effect when the founders feel the need to achieve milestones and postpone Series A.

The company plans to put the funding towards the deployment of AI technology in buildings in different regions like North America and its home market Canada. These funds would also support its expansion in international markets, for example, Ireland, Australia, and the UK.

The company enables HVAC (heating, ventilation, and air conditioning) in building in such a way that they operate autonomously. This way the buildings are able to reduce 25% of total energy cost. It also claims to boost employee comfort by 60%. It is clear that the raised amount would allow rapid expansion in both existing and new markets.

A Brief Introduction About BrainBox

The company is at the forefront of a completely new era in building automation. BrainBox is basically a leader in the green building revolution. It is located in Canada and is a global AI hub. They consist of a team with skilled professionals of AI, real estate, data science, energy efficiency, and HVAC.

It is a fact that almost 20% of the greenhouse gas emissions are from buildings. Out of that percentage, 50% of those emissions are due to HVAC systems. These facts are the driving factors of the company.

In case there is no intervention, these gases will continue to ameliorate. They will have very harmful impacts on the environment. The team at BrainBox AI is dedicated to fighting a war against climate change. They are doing so by bringing change. The increase in the use of innovative and cutting-edge artificial intelligence for the development of greener and smarter buildings is a huge step towards a better future.

It makes use of self-adapting AI technology so that they can proactively optimize the energy consumption of the buildings. Its AI engine supports a self-operating building that doesn’t need any intervention by humans. With the help of the proprietary processes, cloud-based computing, deep learning their technology autonomously the present HVAC. This is done in order to reduce the adverse impact on the environment.

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