BrainBox AI raised $20M

 

BrainBox AI raised $20M in new investment from the Government of Quebec and with participation from ABB.   The company also entered into an agreement to acquire ABB's multi-site retail business.  BrainBox AI uses deep learning, cloud-based computing, and autonomous decision-making to help reduce carbon footprints in commercial properties and lower energy consumption.  The Montreal-based company said combining ABB's MSR technology would help retailers reduce their greenhouse gas emissions and utility costs.  Proceeds from the investment round will be used to support the continued development of its decarbonization technology and global commercialization efforts.  According to Crunchbase , the company has raised $65.1M to date, which includes Seed and two Series A rounds.