On October 28, 2021, ABB Technology Ventures, the venture capital unit of ABB, announced an investment in the Series A round of Montreal-based startup, BrainBox AI, a pioneer of in the use of artificial intelligence to reduce energy costs and carbon emissions from Heating, Ventilation and Air Conditioning systems in commercial buildings.
ABB Technology Ventures leads the Series A investment round in Brainbox AI, which also included Canadian-based Esplanade Ventures and Desjardins Capital in addition to a number of private investors.
This transaction is part of ABB’s ambition to make buildings smarter, safer and more secure while improving energy efficiency and reducing carbon emissions. This investment and strategic engagement allow ABB’s Smart Buildings division to combine its existing portfolio of digital solutions, particularly the ABB AbilityTM Building Ecosystem, with BrainBox AI’s predictive, self-adaptive and scalable cloud-based artificial intelligence.
A Fasken team composed of Jean-François Séguin, Jonathan Raizenne and Emily Dufresne advised ABB Technology Ventures in connection with this investment.Jurisdiction
- Québec
