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Novele raises $17M Series A to expand its AI energy platform
The Stamford, Connecticut startup says it combines its BoardOS AI software with its distributed EnergyBoard storage hardware for commercial buildings.
Commercial Observer reports that Novele, an applied artificial intelligence energy company for commercial buildings, announced it raised a $17 million Series A round to expand its services nationally.
The outlet says venture capital firm Boisei Labs led the oversubscribed round, with additional participation from Locke Health, Arup Ventures, and construction firm Barton Malow, along with several large commercial real estate owners and operators, according to Novele.
Commercial Observer adds that Novele provides a full-stack energy system, built around its BoardOS software and EnergyBoard hardware, and was originally founded in 2015 before being relaunched in its current form in 2023.
Novele CEO and co-founder Charles Conwell said the company aims to make buildings intelligent by using energy storage, as quoted by Commercial Observer.