Novele raises $17M Series A to expand AI energy systems for buildings
What's the deal? NoveleDealroom has a profile for this one. Try Dealroom →, an applied artificial intelligence energy company, has raised a $17 million Series A round to expand its services nationally. Boisei Labs led the oversubscribed round, with participation from Locke HealthDealroom has a profile for this one. Try Dealroom →, ArupDealroom has a profile for this one. Try Dealroom → Ventures, Barton MalowDealroom has a profile for this one. Try Dealroom →, and several of the largest commercial real estate owners and operators.
What's the endgame? The startup uses AI and proprietary hardware to provide energy systems for commercial buildings. The fresh capital will fund a national expansion.
Who's backing it? Arup Ventures is the venture arm of global built environment consultancy Arup, and Barton Malow is a national construction firm. Their involvement ties Novele to the industries that design, build, and own the buildings it serves.
The signal: At $17 million, the round sits toward the higher end of Series A deals, and the mix of investors — venture firms alongside construction and real estate operators — points to demand for tools that cut energy use in commercial buildings.
Read more: commercialobserver.com
Image credit: paul_houle
